M&P, CX Energy, Halcon

In a phone conversation with an M&P paralegal on Monday the 14th, I was told that M&P was going to give CX-Halcon until Friday the 18th to pay bonuses to landowners in Mt Jackson 4 group 1. If bonuses weren't paid, they were going to exercise the 20 day 'escape' clause on behalf of the unpaid land owners. Does anybody have any information or discussion on that?

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Permalink Reply by KB on January 18, 2013 at 5:48am

I  have a question.  When they say "title" do they mean the actual title on my property?  Because if they do, my title has passed scrutiny by banks and others twice in the past year.  I have nothing on my title that says ANYTHING about National Fuel et al. or liens or tyied up mineral rights.    I am in Sandy Lake Twsp and have received nothing.

K.

Permalink Reply by JohnL on January 18, 2013 at 6:41am

Elnathan-  I think the key word in that statement regarding Halcon is "in their buy area".They've only leased to the north and west of Perry township, nothing south or east which is most of Mercer county.

 

Karen-  I think the explanation regarding the underground gas storage issue will come Wednesday night.  I heard that there was some sort of 10 year agreement for underground gas storage from way back in the 1930"s.  That area has been under lease by VIsta, Atlas/Chevron and other companies for decades.  I think it's Halcon's way out of paying the contracted bonus money. JMHO

Permalink Reply by Elnathan Cory on January 21, 2013 at 3:55pm

Please let us know what happens at the meeting January 23rd at Grove City high school 7pm.

Permalink Reply by KB on January 23, 2013 at 11:03am

I do not know if I will able to attend tonights meeting at Grove City High School. Will someone post on this site what they had to say? Thanks.

 

Permalink Reply by JohnL on January 23, 2013 at 5:07pm
Karen-check out the Mercer county site. There's a good summary there. Believe it or not, but Halcon refused Samdy Lake, Stoneboro and Sandy Lake Twp because a "meteor" supposedly damaged the shale formation in that area millions of years ago! I thought I had heard it all.....until tonight that is.
Permalink Reply by KB on January 24, 2013 at 2:22am

John - I know.  I was there last night.  Could NOT believe my ears. A METEORITE!!!  What isyour take on what M&P and CX had to say last night?

Permalink Reply by JohnL on January 24, 2013 at 3:58pm
Karen- they were upbeat on the potential for a new lease, but remember they're salesmen and lawyers so you had to look past that. They were honest about suing Halcon. I did think they were a little too "happy" for a lack of a better word. I wasn't impressed by some of the joking around, most of the people there view this whole issue much more seriously. I do believe there is a lease out there at some point, a lot will depend on how the wells currently being drilled turn out. Time will tell....... unless we're hit by another meteorite before then.
Permalink Reply by John on January 25, 2013 at 1:14am

Why wouldn't they be happy, these guys made millions, no matter who got left out! In my opinion the whole lawsuit thing is just a stall tactic to keep everyone off their backs. Although their have been lawsuits won against oil and gas companies, I think this would have no chance in hell. Everything I've read says these companies have left themselves an out in these leases.....Just my opinion!

Permalink Reply by Elnathan Cory on January 25, 2013 at 1:38am

There is a letter from Halcon that CX has stating that the leases would absolutely be paid if the lessor had mineral rights. That is not in the lease as you have indicated. A court would have to decide if the letter to the group would supercede and or add to the terms of the lease. 

Permalink Reply by KB on January 25, 2013 at 9:21am

I really hope that we, as a group, will hold Halcon's feet to the fire.  Breach of contract is breach of contract. 

Does anyone remember the name of the law firm that is handling the class action?

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