landowner

This Sure Sounds Familiar

http://blogs.forbes.com/christopherhelman/2011/01/21/chesapeake-ene...

 

http://morningstarpublishing.com/articles/2011/01/05/leader_and_kal...

 

It worked so well in Louisiana, they decided to do it in Michigan....  The entire articles can be read in the links above, but an excerpt is here:

 

Most of the plaintiffs are landowners in Texas and Michigan who agreed to lease their land to Chesapeake (often at prices more than $5,000 an acre) for oil and gas exploration. They signed contracts with Chesapeake, or one of its agents and received orders for payment in amounts totaling millions of dollars. So imagine their surprise when a few weeks later instead of getting cash the landowners instead got letters from Chesapeake claiming to void the leases and stating “we will not be funding the order of payment.”

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landownerPermalink Reply by P.G. on February 3, 2011 at 5:09
That's the whole point isn't it?
Permalink Reply by Linda Whatley on February 3, 2011 at 5:12
YES!!!!!

landownerPermalink Reply by P.G. on February 3, 2011 at 5:41

Maybe there could be companies who specialize in mineral lease transactions with escrow services people could hire. Like a real estate closing..

Kind of amazing something as important as these transactions can be are still conducted on a hand shake basis, huh?

May be something a title company could do as a sideline...

Perhaps offer Mineral Title searches like they do for mortgage companies..

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