Lease recording?

Was anybody else in the Buckeye Mineral lease group that signed in Feb?  The signing was held at an old school near Salem.  Anybody from that group get paid yet?  How can you tell if your lease was recorded?  I live near the Janie (sp?) well in Washington Twp.  Looking forward to some $$$$$$$$$$$$$.

 

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Replies to This Discussion

Permalink Reply by Utica Shale on May 29, 2012 at 5:34am

Matt,

 CHPK recently borrowed $3 Billion from Goldman Sachs.

 Will that be enough to cover your Signing Bonus or will they need more ?  :-)

Permalink Reply by Matt F on May 29, 2012 at 5:56am

I always planned on becoming a gas baron.

Permalink Reply by Deb on May 30, 2012 at 1:12am

Signed the same time (Feb 18th) and we are still waiting also. I emailed both Buckeye and Chesapeake as the email addresses were on the lease info. Did not hear back from Buckeye but Chesapeake emailed a few hours later. Reply was :

"Title has not been run on your parcel yet.  If it passes title, you will be paid by the end of June."

I quess no news is good news.

 

Permalink Reply by ME on June 6, 2012 at 2:25am

What do you like?  I signed on Feb 6 and the lease was recorded at the court house on Feb 17 according to the Columbiana County Recorder's website.  The lease had 120 days to pay the upfront money to me however the 120 days are up and no money yet.  Also Chesapeake has put a pad across the street from me that has no permit.  What is Chesapeake doing?  I think they are out of money.  If they don't pay then who takes this recorded lease off my property so another company can lease it?  

Permalink Reply by Kathleen on June 6, 2012 at 2:44am
Read your lease a little closer to see if it says they have to pay you before they record a lease. Either way it doesn't stop them but that language would help you. It seems there are a few pads going up without any permits on ODNR. I think they can do work like that without one but not drilling. ODNR. also maybe behind. Did you sign on your own or with a group or lawyer. If you worked with either I would call and ask them "what's going on".
You may have to send them a certified letter asking for payment or release of the lease. Most leases give this extra time on top of the 120 days but you have to make this move. Than they have a certain amount of time to respond. The lease language is so important right now for you.
Permalink Reply by ME on June 6, 2012 at 3:19am

What is weird is that I signed a one acre piece with the same group I own in mid December which was recorded on Dec 29 and I received the check Feb 21.   The chances are that this piece of property will never see a drill and I received the check while the other property is in direct line of the drill pad.

Permalink Reply by Finnbear on June 6, 2012 at 2:48am
120 calendar days or 120 business days?
Permalink Reply by Matt F on June 6, 2012 at 5:14am

My lease clearly says 120 calender days.

Permalink Reply by Kathleen on June 6, 2012 at 8:07am
Matt did you look at that link Finnbear provided on the first page of this thread to see if they recorded a lease on your parcel. The ALOV leases I've read say they can't record until you are paid. I know this is not ALOV but I can't imagine they would take that language out when they turned into Buckey mineral.
Just curious if they recorded a lease yet. That link will show all the history of your parcel.
Our lease was beyond clear no filing until payment. Using that link they recorded my lease January 30th but the check wasn't even cut until the 14th of Feb.
I hope you all get paid. As you may know it just comes in as regular mail so be carefully it doesn't get mixed in with junk stuff.
Permalink Reply by Matt F on June 7, 2012 at 12:45am

Kathleen,

I checked the recorder's website.  Nothing yet.  I don't know how they are with keeping it updated though.

 

Thanks,

Matt

Permalink Reply by Lu Kimble on June 13, 2012 at 1:50pm

Heard letters were going out from Buckeye Mineral informing people to watch for their checks and that leases are not recorded until the check is received / verified.  Hope this helps.

 

Permalink Reply by ME on June 14, 2012 at 1:08am

I know that is not true about not recorded until the check is received.  I have had three separate leases and everyone of them were recorded at least a month before I received the check.  The last lease was recorded in Feb and I still don't have my check but they are looking into it now for me after I wrote a letter.

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