Replies to This Discussion

Permalink Reply by Just Me on September 30, 2009 at 5:06

I'm in Southern Trace and just received a letter from Camterra asking me to contact my mortgage holder and have them execute either a Subordination Agreement or a Nondisturbance Agreement. According to my letter they can't make payments until that is done. I just faxed it all to my Mortgage company.

Permalink Reply by UPITT on January 13, 2010 at 15:12

Just Me,

I received the same letter and called my mortgage company and they said to fax the info but there is like 10 pages. What did you do and what was the outcome. I need to get this done asap. Thanks for any help.

Permalink Reply by Tom 30.16N.13W on February 23, 2010 at 17:57

Camterra drilled a vertical well in my section that is producing about enough, as ShaleGeo said, to give a nice meal at McDonald's once/mo. They also had a horizontal permitted, but let it expire on 12/31/09 and will have to reapply. It seems they decided to move to the section just to the east, and the drilling can be seen (and probably heard) behind Norris Ferry Crossing subdivision right now from the Southern Loop. I also see on Sonris that they are no longer listed as the operators on the vertical well in my section, or any of the surrounding wells they used to operate.

I got one of these letters, and it seemed to me that Camterra was trying to mop up some mistakes they made when trying to quickly lease all the land before the news of the HS broke. Maybe it was part of the deal before they transferred operations to the new company?

As it was explained to me, it was not required that my mortgage holder sign it, but they were requesting that they sign it, and they had to have my permission to allow them to sign it. It basically keeps their drilling operation from being disturbed (Nondisturbance) should I go into default on my mortgage. If the bank took control of my land, they would get my royalties and they could not revoke Camterra's rights to O&G operations. It was all CYA for Camterra and the mortgage company, with no consideration of, or protection for my right to continue to get royalties.

That was my take on it anyway. I told the landman who kept calling me to sign it that I didn't feel it was my obligation to give them a redo opportunity to correct their mistake, and I didn't sign it. Don't know if I did the right thing or not, but he quit calling.

Permalink Reply by A.J. Hodges III on November 16, 2009 at 10:43

I leased to Camtera, Signed a division order for the CV well last month. If you do have a note on your property or owe on the property you do not need to involve your mortgage company.

Permalink Reply by UPITT on January 13, 2010 at 15:13

I owe on my mortgage, are you saying I can by-pass the whole calling the mortgage company, etc? Thanks for the help.

Permalink Reply by Les on November 17, 2009 at 9:50

I was wondering the same thing. We signed a lease in that area back in early '08 and still no royalty check. A neighbor told me he thought they had temporarily capped the well when gas prices tanked.

Permalink Reply by sesport on November 17, 2009 at 11:44

Ah, but without the verticals, there would be no horizontals. May be a lesson in patience here, hmmmm?? :0)