joe traczyk
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pugh clause terms

Started this discussion. Last reply by jett May 7, 2023. 16 Replies

Hello, in 2011 we signed a lease with gulfport in belmont county with option to renew once which they did in 2016. gulfport then assigned the lease to ascent in 2018 and it expired in june 2021, a…Continue

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pugh clause terms

Hello, in 2011 we signed a lease with gulfport in belmont county with option to renew once which they did in 2016. gulfport then assigned the lease to ascent in 2018 and it expired in june 2021, a few weeks ago I received a call from a guy from purple land mgmt stating ascent wanted to extend the lease under the pugh clause but they want to pay yearly instead of the 5 yr term up front as the lease spells out. as I read the clause this could be used during the primary term 1 time as long as the…See More
Jul 26, 2023
16 Comments
jett replied to joe traczyk's discussion 'pugh clause terms'
"That’s great you’re going to be a unit Yes, it sure makes sense to get the lease on your terms. "
May 7, 2023
joe traczyk replied to joe traczyk's discussion 'pugh clause terms'
"ascent has the area where our property is located(pease twp outside colerain) and they are putting a drilling unit together now, my brother works for the state and he saw a map where they surveyed our property for a well so I feel if we don't…"
May 6, 2023
jett replied to joe traczyk's discussion 'pugh clause terms'
"IWe also have partial acreage in a unit so I checked our statements and can’t be sure if deductions are being taken out so I’m having the lawyers’ office look them over next week. Maybe if you talk with the lawyers office…"
May 4, 2023
joe traczyk replied to joe traczyk's discussion 'pugh clause terms'
"Jett, that is who did our original lease but I called them 2 months ago about a question on the deductions they are taking out of us and they never called me back. we have a no deduction lease signed with gulfport and it was followed until part of…"
May 3, 2023
jett replied to joe traczyk's discussion 'pugh clause terms'
"If you have your own lawyer, I very much doubt a land man is necessary. Don’t know if the oil/gas company will deal with the landowner directly. When we did our lease, we used our lawyer and he dealt directly with the oil/gas company with no…"
May 3, 2023
joe traczyk replied to joe traczyk's discussion 'pugh clause terms'
"Jett, can you deal directly with ascent  because according to this guy the lease will be coming from him but I would rather deal with ascent directly"
May 2, 2023
joe traczyk replied to joe traczyk's discussion 'pugh clause terms'
"it is a no deduction lease but when gulfport transferred it to ascent they are taking out deductions and when I inquired with ascent about it they basically told me to take them to court"
Apr 25, 2023
Dott replied to joe traczyk's discussion 'pugh clause terms'
"Joe, I for one have mentioned Emens & Wolper. I worked with Cody Smith very knowledgeable.  They have special pricing if you are willing to deal with the landman  yourself according to their Recommendations. Everything is in writing…"
Apr 25, 2023
David Cain replied to joe traczyk's discussion 'pugh clause terms'
"Joe, Billl Williams from KWGD is in Canton, Ohio.  Their office phone is (330) 497-0700.  I don't think you would need to actually visit his office - they could probably handle everything over the phone or email.  He is a…"
Apr 25, 2023
joe traczyk replied to joe traczyk's discussion 'pugh clause terms'
"where is he located at?"
Apr 24, 2023
David Cain replied to joe traczyk's discussion 'pugh clause terms'
"Joe, One option you may want to consider is trying to get a 5 year paid up lease under a new lease contract rather than extending the old lease on a year to year basis.  If you agree to a year to year lease and they drill in the first year you…"
Apr 24, 2023
jett replied to joe traczyk's discussion 'pugh clause terms'
"That’s the opposite of what a Pugh clause does A Pugh clause sets you free from the lease any acreage that is not in a unit - so that you can lease again with new sign-on bonus and terms you want on your acreage that is now free Landmen…"
Apr 23, 2023
joe traczyk replied to joe traczyk's discussion 'pugh clause terms'
"this landman is trying to tell me that the pugh clause allows them to extend the lease that expired in 2021 for 2 years after it expired but then wanted to change the payment terms from what was in said lease "
Apr 22, 2023
jett replied to joe traczyk's discussion 'pugh clause terms'
"This is why a Pugh clause is great to have. Any acreage not in a unit is free and clear for the landowner to make a brand new lease on. It’s true that the companies can set forth terms that benefit them; but you, the landowner, can also set…"
Apr 22, 2023
Utica Watcher replied to joe traczyk's discussion 'pugh clause terms'
"Are you sure that when the landman said "extend the lease under the pugh clause", that they meant they want to sign a new lease under the acreage the expired, per your pugh clause?  Leases are fairly common it seems now in Belmont…"
Apr 21, 2023

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What is your role?
Landowner
Which state(s) are you following?
West Virginia, Ohio
What shale plays do you follow?
Marcellus, Utica

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