Thanks for the information David. I am with Chevron and my O & G rights are in Mill township, Tuscarawas County Ohio. I am in the Wet Gas area and the company is mostly after the condensates I am told although there will be some Oil and Gas coming out with it I imagine. Are you being paid for condensates?
And the second question I have is does your "Market Enhancement" Clause read exactly like mine?
Here is my Clause:
Such royalty to be calculated without deduction for the production, gathering, storing, separating, treatment, dehydrating, compressing, processing, transportation and marketing of Oil and gas and other products, provided however any such costs which result in enhancing the value of marketable oil and gas or other products to receive a better price that is less than or more than the price received by Lessee.
I ask this because you said the O& G company is not deducting anything. Chevron wants to ratify the lease to increase the unit size from 640 acres to 1450 acres (Longer laterals to be drilled in 2018). So I said that I would agree to the increase if they drop the Market Enhancement Clause. They said they would but only if I agreed to having all "Transportation" charges deducted. So I don't know if I should just keep the Market Enhancement clause and take my chances or go with the Transportation Charges.
Some Lawyers have told me that Market Enhancement Clauses allow them a backdoor to charge any type of deduction including transportation and thought perhaps just changing it to " Transportation" only would be better. But you said with your Market Enhancement clause they don't deduct anything but I think your wording is a bit different than mine. I would appreciate any insight.
Good day, How is everything with you, I picked interest on you after going through your short profile and deemed it necessary to write you immediately. I have something very important to disclose to you, but I found it difficult to express myself here, since it's a public site. Could you please get back to me on my private email(email@example.com) for the full details? Have a nice day and God bless you, jean
David, I have property in Noble County. 330-241-3065 is my cell. Local Meeting with Hart Petrol Global to discuss the audit info you mentioned in your last post. This is on April 2nd. Three meeting times have been set up. This is free. Call me if you would like to attend. I am a NARO member.
What makes this site so great? Well, I think it's the fact that, quite frankly, we all have a lot at stake in this thing they call shale. But beyond that, this site is made up of individuals who have worked hard for that little yard we call home. Or, that farm on which blood, sweat and tears have fallen.[ Read More ]