Had a pitiful lease with CHK..started with Range Resources then went to Great Lakes then to CHK...CHK opted to take the extra 5 yr extention in 2012..haven't paid since 2015..thought it was void now..had a Lawyer looking into the release..got a letter yesterday saying they transferred our lease to Ascent..never said when..Ascent never paid us anything..that lease ended last month..What I want to know is does Ascent have any rights to my lease at the old price?
Any of the Brokers working for the oil/gas companies that I dealt with seemed to have the companies best interests at heart and definitely not ours. Maybe these guys are different, I don't know,
but for the amount of commitment involved with these leases, it seems that having someone working for you, the oil/gas mineral rights owner, is worth seriously considering. We were not sorry and felt we got full value for the help of having someone with legal oil & gas experience looking out for our end of the deal. The lease we ended up with was much better than what was repeately offered in front of bargaining.
As I said technically void. There are steps you take to cover yourself and it happens all the time - Certified letter to O&G company asking for a release - which you may or may not get, then what happens more often is ANP - Affavadit of Non-Production which are filed typically with a new lease. Most of the companies in area now - will help you do both to get you under a lease.
And no, I am not a Atty. I have been in this area now since 2007, and actually helped more then a few local attorneys with the laws of their State.
And I am currently not working for any drilling companies, have no desire to work for any here locally.
So, you work for free
All I will do for landowner is look at a lease give my opinion. I've access to leases that are Land/mineral owner friendly - I have a client that has over 60,000 mineral acres in 17 states. One of the biggest things in Ohio is the forced pooling, any small owner should take notice of this and make sure to compare leases etc with neighbors or local attorney - be careful on the Attorney Fees - it should be a flat fee - opposed to a per acre fee which some charge.
If you asked me to review your lease I'd do it for free
Of course they have the best interest of the company "at heart".
That does not mean the interest of the company and the landowner are at odds.
My purpose for posting here was this; if you have concerns, then work with an attorney
with oil and gas experience.That person will be able to inform you if your interests and
the interests of the oil and gas company are mutual. The advice and guidance would be based
on experience with oil and gas law.
I would also suggest that the oil and gas attorney be as local you and the oil and gas activity as possible.
From reading this site, it appears that eastern Ohio has many experienced oil and gas attorneys.
Salt Fork is an Operator actually - and they have hired smaller companies to do their leg work.
Where in Ohio has the company drilled and produced wells ( not just as an investor, but as an operator) ?
I sent you a friend's request did you receive it?
By "at heart" I meant the core motivation behind the terms and omissions of terms of the lease presented to the oil/gas owner.
Some seem to feel that hiring a lawyer is an unnecessary expense. While it's true that the interest of the company and the landowner are not always at odds, of the many leases we saw none appeared to protect or compensate us enough where we felt comfortable enough to sign. So we got our own lawyer to represent us and were satified with the results.
Good for you.
You should have competent advisors that you trust.
And, I would add, the advisors should be local.
Not the internet gurus often found on this site.
Best wishes to you.
Hope you will continue to post as your situation moves forward.