Tim R; Get your facts right. All of the signing events held by Co-X and M&P were attended by Hilcorp officials. If one attended one of the signing events, they left with a photocopy of a signed lease with both their signature and one of a Hilcorp official. The lease stated the only reason that the lease would not be executed was a title defect and was legally binding.
And there were substantial differences in the leases.
Sorry to take so long to reply and thank you for your response. Many "old time farmers" here also. However, if you "went with all the bigger landowners", I would have to believe that big land would lead to big complaints. Just trying to understand.
$$$$ finally! Western Land Services actually called me and sent the check via ups overnight, which was very kind of them. M&P and Co-X still MIA, however, they are still sending me postcards in the mail to come to their meetings!
Tracy: Great that you got your money. I thought you would get it. Don't see why you need go to any more of M&P's meetings. Your property is leased. It may be a long time before any drilling occurs. That could actually be good, because higher gas prices mean your percentage royalty makes you more money with higher gas prices. I do not believe gas prices will stay as low as they are for any extended period of time. I'm guessing 2 to 3 years at the outside. Really glad you got your bonus money, but with gas prices so low I would not expect many wells to be drilled until gas prices improve.
As I explained before, M & P and Co-X have absolutely nothing to do with the title work. Nadda, zip zilch. It is done solely by Western Land. Hilcorp and Western Land have had a long-standing relationship that predates Hilcorp's arrival in either the Utica or Marcellus plays.
Further, Western Land has done everything within their powers to expedite title work. They brought in more people. They, along with other companies, have paid for the courthouses to be open extended hours. They and other companies have donated computers to the courthouses.
These courthouses are old with outdated systems and little work space. It is so bad that a couple of weeks ago there were so many people doing title work in Venango Co that the Fire Marshal came in and made a lot of them leave. And these parcels need to be researched back to 1850, going through a huge amount of ownerships, deeds, subdivisions, minerals sales and reservations, and what not.
I suggest that you take the check and send it back along with a certified letter explaining that they failed to meet the deadline that the lease is null and void. Then you can enlist p umpjack, Tim R, and other experts here to get a better lease with no fee. Lets see what you and they can do.
Actually, she had several return calls.