Replies to This Discussion

Permalink Reply by intrepid on September 4, 2009 at 8:23

What does your lease say?

Anything like this?
(e) All royalties that may become due hereunder shall commence to be paid on the first well completed on the leased premises within ninety (90) days after the first day of the month following the month during which any well is completed and commences production. On each subsequent well, royalty payments must commence within sixty (60) days after the first day of the month following the month during which any well is completed and commences production. Thereafter, all royalties on oil shall be paid to Lessor on or before the last day of the month following the month of production, and all royalties on gas shall be paid to Lessor on or before the last day of the second month following the month of production. Royalties not paid when due shall bear interest at five percent (5%) above the prime rate quoted in the Wall Street Journal as the base rate on corporate loans at large U.S. Money Center Commercial Banks, commencing at the rate as quoted on the date such payment was due, and fluctuating thereafter as such rate fluctuates. Interest charges shall commence on the date payment is due and shall continue until payment is made in full. In no event shall the interest rate charged be greater than the maximum allowed by law.
(f) If royalty is not paid by the date due, Lessor may give Lessee written notice of nonpayment of royalty, by certified mail, return receipt requested, and if Lessor's royalty is not paid on or before expiration of thirty (30) days from Lessee's receipt of such notice, Lessor may terminate this lease and evict Lessee forthwith. However, if there is a bona fide dispute or a good faith question of royalty entitlement (either as to ownership or as to amount), based on an attorney's written opinion furnished to Lessor prior to the expiration of such thirty (30) days, Lessee may pay the disputed portion of Lessor's royalty to a trustee to be selected by both parties, to be retained by such trustee and invested in interest-bearing accounts pending resolution of the entitlement issue, with the interest to belong to the successful party. If the parties do not or cannot agree on a trustee, Lessee may tender the royalty into a court of competent jurisdiction by Bill of Interpleader, to be so held and invested by the clerk under the direction of the court. If the royalty is so paid to such trustee or to the court within the time provided, then Lessor shall not have the right to terminate this lease for nonpayment of royalty.

Permalink Reply by RBH on September 22, 2009 at 11:41

who is the operator?

Permalink Reply by RBH on September 23, 2009 at 3:21

Lease Name: BORDERS, GENE, Lease No: 245597, Well No: 1H
Operator Name: ENEXCO, INC., Operator No: 252045
Statewide Statewide
Lease Production and Disposition
Jan 1993 - Jul 2009

Date GW Gas (MCF) Condensate (BBL) Operator Name Operator No. Field Name Field No.
Production Disposition Production Disposition
Jun 2008 0 0 0 0 ENEXCO, INC. 252045 ANGIE (JAMES LIME) 02870300
Jul 2008 172,144 172,144 160 0
Aug 2008 191,452 191,452 445 522
Sep 2008 166,520 166,520 235 175
Oct 2008 159,133 159,133 232 180
Nov 2008 125,651 125,651 61 0
Dec 2008 91,727 91,727 62 176
Jan 2009 116,312 116,312 65 0
Feb 2009 37,135 37,135 67 0
Mar 2009 73,945 73,945 12 0
Apr 2009 48,987 48,987 39 174
May 2009 63,127 63,127 74 0
Jun 2009 NO RPT NO RPT NO RPT NO RPT
Jul 2009 NO RPT NO RPT NO RPT NO RPT
Total 1,246,133 1,246,133 1,452 1,227

Lease Name: BORDERS, GENE, Lease No: 250219, Well No: 2H
Operator Name: ENEXCO, INC., Operator No: 252045
Statewide Statewide
Lease Production and Disposition
Jan 1993 - Jul 2009

Date GW Gas (MCF) Condensate (BBL) Operator Name Operator No. Field Name Field No.
Production Disposition Production Disposition
Oct 2008 75,393 75,393 67 0 ENEXCO, INC. 252045 ANGIE (JAMES LIME) 02870300
Nov 2008 133,548 133,548 5 0
Dec 2008 91,068 91,068 21 0
Jan 2009 109,057 109,057 180 0
Feb 2009 72,487 72,487 14 178
Mar 2009 55,103 55,103 3 0
Apr 2009 74,571 74,571 0 0
May 2009 87,909 87,909 52 0
Jun 2009 NO RPT NO RPT NO RPT NO RPT
Jul 2009 NO RPT NO RPT NO RPT NO RPT
Total 699,136 699,136 342 178

Permalink Reply by Betty Jacks on September 23, 2009 at 4:26

Ours is not the Gene Borders,,, it is just Borders #1 #2 #3 and #4,,,.. on FM 711....
I also have the well/lease #'s on them.

Permalink Reply by Betty Jacks on September 23, 2009 at 4:31

Cabot Oil is the Operator

Permalink Reply by Driller on November 13, 2009 at 9:02

The Borders unit is now in place. If you own your land/home you should be getting a check soon. If you have your property financed they will have to get a Suposition for Oil & Gas lease from your lender. The form will allow the Operator to pay your royalties to you and not the mortgage co. if you default on your loan.

Permalink Reply by Driller on October 16, 2009 at 3:46

I was told that they are still putting the Unit together. According to how many people and problems incurred it can take months.