Bill's Page

"Hi Ron, I just read that the Permian Basin leases CHK is selling are going to go for more than the estimate, I think by more than a Billion dollars. They must really need cash. Bill"

"Windfall!  What a great word and it exactly describes what all who have signed leases have been fortunate enough to be the recipients of.  I imagine most property owners are like us, we owned it, paid for it (or inherited it), paid our…"

"We also signed in November 4th of 2011 with Shell/SWEPI, and the draft said payment would occur in 120 "banking" days, which tuns out to be about 5 months with weekends and holidays.  Some leases specify 90 banking days, or 90…"

"This posting language sounds familiar.  Have you posted in another forum by another name?"

"Received payment exactly on the 120th day.   Bill"

"That caluse efffectively negates any "royalties with no deduction" clause you may have in the lease. I'd delete it. There are many on the forwum available similar to this one:: Royalties shall be paid without deductions for the costs…"

"When we signed with Shell in November, our lease said 120 banking days, so check your lease for that deadline.  Some may have been 90, some 120.  I have contacted my landman throughout the process and he told me a month ago that our…"

"Ron, I have read your posts with great interest, and have in fact been long considering aquaculture as an option on my property in PA. (I in fact downloaded about two years ago a great manual on the prawns you are growing).  Is there a way I…"

"Amen!!!"

"They are nice people, and I believe honest, but frankly, I did better with Shell on my own.  Granted, they got a few hundred more dollars on the bonus, but if you deduct the percentage that they were to receive according to the agreement I…"

"Actually, the current Shell offer is better than the current XTO (at least in my experience as of November 5).  Shell is offering an 18% no deduction royalty, while XTO is either 15% no deduction or 18% with deductions.  Both are offering…"

"Actually the offer from Shell has a Pugh clause (at least ours does have the addendum added), and we are getting ready to sign.  I wonder - why would a company gather leases and HBP for the next 50 years?  What could they…"

"Good point, farmhouse, thanks!   Bill"