hilcorp bonus payments/wetern land services

I signed with hilcorp through western land on dec. 9th $3250.00 + 17% royalties my property is in shenango township mercer county  my question is lease was signed on 12/9/11 oil and gas lease filed  at court house on 1/30/12 when should I receive my bonus money?

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Permalink Reply by Jim Litwinowicz on February 27, 2012 at 3:55pm

They have 90 calendar days after the signing date to pay.  It seems they file the lease after a preliminary search is done.  They will do the full title work and then pay when the parcel clears title. Should be within a couple of weeks.

Permalink Reply by jon brunton on February 28, 2012 at 11:54am

Jim, What would happen if title problems are found , seeing lease is already recorded in court house?  What is the difference between preliminary search and full title work? It seems they should not file till it clears. Would they then be responsible to un-record the lease? Also does signing a lease make your property taxes go up? Thanks for your info.

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