Replies to This Discussion

Permalink Reply by timothy j anthony on September 18, 2012 at 2:29pm

hey kim, I signed a lease in april on 54 acres in wayne twnship. the land man was c.j.tibbs. the bonus was to be 2000, per acre. HOWEVER i should have been paid in aug.. Cj has been less than helpful in returning phone calls. He claims to have no idea what the status of my lease is. My lawyer had several clients sign with adapt and nobody in crawford got paid. How are u making out with adapt?

 

Permalink Reply by Kim Conaway on September 18, 2012 at 2:53pm

We signed in May, so our payment date isn't quite here.  How many business days did they have to pay you?  Several emails and phones calls to both CJ and Shane with no responses.  I have been sending CJ monthly emails to check the progress and my last response was in July.  Did you receive a signed copy of your lease back?  We have not received a signed copy back and only have an email showing when we signed and our pay date. 

Permalink Reply by timothy j anthony on September 18, 2012 at 3:29pm

im sorry to inform you kim, you will not be getting paid. adapt is writing leases for halcon and halcon is backing out of there leases. cj, basically told me i was out of the lease. I never recieved a copy of my signed leases.  cj wanted me to bring him more acres and im glad i didnt. i had my payment shortened to 90 days witch was up in aug.

Permalink Reply by Kim Conaway on September 19, 2012 at 12:14am

Timothy, Are you able to start the lease process over now that your 90 days is up or did you have to notify Adapt 1st?  When did CJ tell you that you were out of a lease?

 

Permalink Reply by Kim Conaway on September 19, 2012 at 8:36am

Timothy,  I talked with Lorenzo(Venango County) today at Adapt and he told me I should be expecting a release letter within the next week.  I got his number off of CJ's voicemail.  He looked up my paperwork and said I am being released.  Can't move forward until released is signed and it has to be recorded.  Number on CJ's voicemail is different from what is listed on their website, so maybe try that number.  We honestly weren't sure if we were going to get a lease from them to go through

because we are surrounded by range leases. 

Permalink Reply by timothy j anthony on September 19, 2012 at 12:36pm

kim , i talked to Herb Butcher today and he is contacting cj, for me to get me release papers. Now im not sure what to do? Range is probably my best chance of getting a well.... You have any great ideas?

Permalink Reply by Kim Conaway on September 19, 2012 at 12:48pm

Range is probably my next try.  We are donut holed by old Range leases, but at the time they weren't dealing hence the lease with Adapt.  I had also contacted Range last year, but they weren't interested in leasing us but that was before the utica interest.  Will have to wait and see.  I know I can't do anything until after I get my release paperwork.

Someone also said to try Guardian Exploration, but I think with the amount of range leases in troy township, I will probably approach them first.  Let me know how you make out.

I really wish someone would have called me back because I'm not mad, but would have liked to know that I could move forward in the search for something.  Not sure if they just found out we weren't being leased or what.  Nothing is a guarantee and I'm glad I didn't spend any money before it was in my hands.

 

Permalink Reply by j. rick on September 21, 2012 at 10:32am

i see some people have property in troy twp. range is offering junk leases and trying to give around 300-750 per acre.they are not accepting any terms but their own. yes 750 is nice but 15 percent royalty. thats robbery! the only way is strength in numbers. you will never see your money for years 3,4and5. because you will be held by production.per ranges lease terms. you probly wont even see year 2. troy twp is up and coming with cx energy representing more and more landowners each day. what happened in mercer county, remember that was a learning curve and cx is sure to have this avenue covered. troy twp will most likely go to range but they will have to pay and offer a good lease to get it,so forget all the hype and go listen to what cx has to say meadville elks on rt 86 tuesday the 25th of september at 6:30 pm. and cx does like the donut hole people as well as the half acre people. oh by the way i do not work for cx i am a hardworking landowner in troy twp thats signed and also have multiple neighbors acres signed and working on more.guardian is a flipper and it seems by the posts people got screwed on their own with adapt. so why keep digging the hole deeper. do your home work.

Permalink Reply by Sam Douglass on September 20, 2012 at 2:48pm

It's nice that you want to lease your property, but think how it looks when one goes around in rags and says, "Please lease my property."

x

Maybe it is better to wait till they come to you rather than going begging.  They will come when they are ready!  And they need just about every piece of property.

x

And it might actually be fun to say "no" when they do come around.

Permalink Reply by timothy j anthony on September 20, 2012 at 4:30pm

sam, for your info, I drive a beautiful hummer, and dress in only the best. Your comment about going around in rags, rubs me the wrong way.....some of us dont Need to lease our property we just like making money, just saying

Permalink Reply by Sam Douglass on September 23, 2012 at 10:59am

just trying to make the point that it probably does not help your negotiations if you go to the producer and say "Please lease my property". I was not intending to be offensive.  I know nothing of your financial strength.

Permalink Reply by Douglas W on September 22, 2012 at 1:09pm

True Sam. I heard a lawyer who heads a land group tell a group essentially the same thing. It was 5 months ago when he said avoid flippers at all cost as they may place a cloud on your deed while backing out without even telling you. Also, he has the experience state and county hopping through this before to have the wherewithal to know to stay away from Halcon based on their balance sheet and other information. Seems as though he had more than a premonition. I see some of these very traps snaring a few on this message board he warned about.

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