This landman came in and signed some landowners in my area.  I've read his lease and some things just don't sound right.   The following bothers me the most:

Lessor's Covenants.  Lessor hereby covenants that he is seized of an indefeasible fee simple  estate in the land herein before described, together with all the underlying  oil and gas, and that he will forever warrant and defend the leasehold estate hereby demised unto the lessee against the lawful claims and demands of all persons whomsoever, and that the lessee shall have the exclusive, full, free and quiet possession of said described premises for the purposes and during the term herein set forth.  Lessor further agrees that the lessee at its option may pay and discharge, when defaulted, any taxes, mortgages, or other liens existing, levied or assessedon or againstthe above described lands, and in the  discharge of any such mortgage, tax or other lien, any royalty or rentals accruing hereunder.

 

This sounds like much more than a Special Warranty of Title.  Can these gas companies take more than just the oil and gas with a Lease?  What are your thoughts on the above paragaraph?  What is the landowner ACTUALLY signing away?

 

1. Reserve gas = 200,000 cubic feet per year.  Most are 350k and/or a monetary value.

2. No mention of the word "Gross Proceeds" and when asked, he stated XTO wouldn't allow it.

3. $20,000 total for a pad site, includes 7 acres and can take additional acreage for $3k/acre, no limit.

4. Nothing for Workers Comp or Liability Insurance, Umbrella Insurance or Business Auto or Liability Insurance.

5. Nothing stating No Pits, No Compressor or Processing, No Hazardous Materials, No Disposal or Injection Wells.

6.  Conveys all rights to drill and operate for oil and gas in ANY underlying strata....

 

Am I missing something?  The landowners that signed this lease have been involved for almost a year and signed this lease without even having their lawyer review it, and they own near 300 acres!

 

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Replies to This Discussion

my mistake 4950/19%  Exxon, XTO, Permian one in the same

I'm not dealing anything with Mr. Leeds.  Have you heard how his meeting went down in Monroe County?  I was told he was all but ran off the property.  I'm surprised he hasn't chimed in here to defend himself.

So what is YOUR ANGLE with this comment, more bashing and no evidence!!! When was this meeting, i thought he wasn't with XTO anymore, according to TOM, he never was!!!!!!! You two guys need to get your stories straight or start deleting your previous comments, it is to easy to discredit all of your new claims if your old claims are 2 pages back!!!!!!!!!!!HMMMMMMMMMMMMM!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

This is better than the republican debates .Batter up ---------  

Sorry H BO,i'm a little digruntled by these people who think they know more than everyone else and we are all dumb because we dealt with a land man!!!!!He worked with us and wanted to help as much as anyone!!! On top of that, he recieved no % from our deal which i confirmed with Phillips!!!!!!Can't say that about Lensman!!!!!!!!!! Even Ed Sustercik didn't get money from the landowners, XTO paid his fee, and that is a fact!!!!!!!You gotta wonder what these guys are getting from Lensman( if your keeping score at home Tom & Sid, that would be considered an opinion not a fact) I know this we no longer have a guy in York trying to put blocks together and that hurts all of us down here, if anyone, i think the only people that got the short end of the stick were the people who signed with Lensman(agin fellas, that was an opinion)HMMMMMMMMMMM!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

mark leeds come back ill take ur $5200. sounds fine and dandy to me.

has  anyone who signed with a law firm driven company had a non o-g company law firm look at there lease yet if so how did things look . I am trying to make up my mind whitch way to go . Thanks

Tom you are 100% correct i did raise the same questions Mr. Leeds did,reason, the were never answered. But because you won't or, most more than likely, don't know the answer, you say i'm stirring crap!!!!!!!! Again, when you guys have no answers, you  make things personal......Whatever!!!! You start off agreeing with me about Sid flip-flopping,but say i left stuff out.............I was only pointing out that within an hour the man said he read the lease, than he said he didn't!!!!!!!!!!! But you took the oppurtunity to try and prove that he said it was a great deal once he saw it.........Hello........WE HAVE NO IDEA WHAT DRAFT HE SAW IF ANY!!!!!!!!!!!!! But you say i twist the facts, your whole intention here was to take a shot at me, Mr. Leeds, and plug Lensman.........mission accomplished!!!!!!!!!!! Still the fact is this, you folks want to come on here and put people down that didn't sign the Lensman deal and talk about how great it is, then  say at the end "They got more than anyone else around here"Are you with the daily planet, do you know what everybody has been paid so far, does every landowner and O & G company run thier deal by you first, your blanket statements make you sound less than intelligent and confirm my OPINION, you are on here strictly to talk up the Lensman group and that's OK........You were really quick to throw Sid under the bus weren't you,but you really only started being cordial to him when he started agreeing with you anyway........Tell the boys in Akron we said HI.........HMMMMMMMMMMMMMMMMM!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

amen....

HMMMMMM I did not take shots at anyone because they didn't sign with Lensman, I have said repeatedly on here every landowner has to make their own choice its their land and their minerals, Sign with Lensman, sign with KWGD, sign with Susteric or go it alone signing direct with an Oil company is each persons choice all I have said is get educated, get informed and protect yourself either by joining a landowner group or hiring a oil & gas attorney or as we did both, 

 I have conversed enough with you on here to know your fairly intellegent and yet you made a comment that even susteric didn't take money from the landowners he was paid by the OIl company, I know you aren't naive to think that ultimately didn't come from the landowners, the oil company is only going to pay so much per acre, either the money is taken off the top b4 the landowners get it or after its still from the same Pile. You say Mark got nothing you mean he did it for free? No he got paid to sign you up whether it was a salary/bonus case, Commission, or salary/commission he got paid just like lensman, Susteric and Des will, the only group I know that i hear did it for free was ALOV and even they are for profit now.

  I didn't throw Sid under the Bus at all, I stated the facts as I continue to do!  I initially disagreed with him when he spread rumors about lensmans deal, and of course we became cordial when we agree, Again I respect the fact that when he realized what he said about a bad deal was wrong he apoligized and corrected. As far as what draft of lease he saw he has seen only he can speak to that! your correct I don't know!

Again as far as I said they got a better deal than anyone and I don't know, your right I don't know what everyone got & didn't claim to? here again you either don't read or don't want to know, Go back & read my post, I said in that persons words! That was stated to me by a person that signed the lease.

Finally I am not on here to promote Lensman but they are employed by our group in negotiations for us & i am not going to sit back without disputing things that are not true or twisted! So yes I have an agenda to protect my group & do whats best for my family, As you do to Build a block to be drilled & my opinion is your angry that you decided to go it alone and appear to be on an Island surrounded by Neighbors that went with a group and as you put it " We no longer have a guy in York trying to put blocks together and that hurts all of  us down here"    HMMMMMMMMMMMMMM!!!!

 

You are welcome to your opinion!!!!! But here is the fact it has been said on here that Lensman approached no one down here they were approached by groups to represent them.......and that makes alot of sense because of all the shale drilling that has gone on in the Akron area where they are based....Wait a second, there is NO DRILLING IN THAT AREA......................Now you said i am fairly intelligent and with that said it doesn't take a genius to figure out they came to this area with the exact intentions i stated, to get a cut of the local landowners money!!!!!!!!! Our lawyers have just as much experience on this subject as they do, probably more, but you will defend them to the end!!!!!!!!!!!!!! One last point, if they are still negotiating for you, how can you say how great they are you haven't seen the end results of thier negotiations.......Maybe in your 32 years of doing business you were to used to dealing with people that took what ever you said as law.......not around here bud............Your are praiseing and exhaulting a deal that in your words,is still be negotiated,that does not make you seem fairly intelligent, in fact it kinda does the oppositte.......And you are right i am angry, but only at people like you who think we are fools, who is the fool the man who has seen and signed the deal and sings it's praises or the man who sings praises about the deal that is still in negotiations.........Please Tom stop while you are behind, this way to easy for me!!!!!!!!!!!! HMMMMMMMMMMMMM!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Now i got you mad, again whoever doesn't do it your way is a FOOL!!!!!!!!!! And in not one sentence do you address the fact that you you are defending negotiators that have gotten you nothing yet........Funny the same person who won't list any terms of his great deal, want's to know terms from everybody else's deal!!!!!!!!!!! Makes you say HMMMMMMMMMMMMMM!!!!!!!!!!!!!!!!!!!!!!!

 

I was mistaken on Lensman location, but again after looking at Utica shale map, only about 10% of Stark co. has Utica under it as compared to Belmont which is covered fully!!!!!!!!!!! You are right they would know better than our lawyers, you goof!!!!!!!!!!!

And ..FYI...........I did take it to ATTY. John Estadt, a local ATTORNEY!!!!!!!!!!

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