M&P BEING SUED / CLASS-ACTION SUIT AGAINST HALCON, M&P & CX
Hello everyone:
I have not posted anything on here before. I have always just read the comments of others. I thought I would just post some thoughts. After being patient for 8 1/2 months I still have no answers like others in the south east Mercer County area. Is Halcon going to be held responsible for their actions? Are they going to be made to pay for the contracts they signed for? How qualified is M&P when it comes to representing the landowners of group 4 against a company like Halcon with deep pockets. Will we get an honest effort from M&P or will they make it as short as possible and except less than what we deserve to mitigate damages on their behalf. I have just read, in detail, the civil suit against M&P by Terra Energy LLC. Now it seems to me that the landowners not only have to worry about being pushed around by an unethical oil & gas Co, but now we have to worry about the real motives of the law firm we have to represent us. Are they going to treat clients like they treated business partners? I think if given a chance M&P will come back to the land owners after any legal actions against Halcon with a bogus report how they couldn't do much and if we continue it will tie up our lands for years, of course due to a half hearted attempt at getting us what we legally are owed.
I only have this attitude after listening to M&P for 8 1/2 months tell us how important it is to stick together as a group but they will break up the group at the drop of a hat to sign a little chunk to this O&G Co and another chunk to a different O&G Co. This sticking together only benefitted them by having all of us available to them for whatever size of lease they could get from any other O&G Co. After seeing an E-Mail to Terra Energy Advisors LLC from Jack Polochak describing how maybe Terra Energy should get some leases signed by an O&G Co that are less than desirable for landowners to make it look like A Co he was partnering up with was successful in the oil and gas leasing business. That just shows me that he will sacrifice his clients profits to improve his and his associates. I think everyone should read the Lawsuit especially the landowners of group 4. Maybe I am seeing this in a sinister way and I am just swayed by how the rest of the world does things these days. Here is the link to the Lawsuit. I would like to know how many other landowners see it the way I do.
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Replies to This Discussion
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Permalink Reply by James Brink, Esq. on -
Deven: When was this meeting held? The link your provided is dead.
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Permalink Reply by Deven Dittrich on
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The meeting was the "lease signing" back in June 2012. The above post was originally posted in Sept/Oct as soon as word came out that Halcon was backing out and can be found on this site's "Halcon" thread. At that time, the link was still live. Within hours of that post, the link was dead.
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I will try to keep this brief for this entire circumstance has been a bitter for all involved to swallow. This is more so to point out that THIS 'situation' is somewhat 'commonplace' within the g/o industry - from WAY bacK (yet really NOT 'that far back' in time...). Just read in a 'Time/Life - The Old West' (The End & the Myth)...#5 - A mad rush for black gold (p. 160 - 191) concerning areas of Texas (beginning with Spindletop), Pattillo Higgins & Anthony Lucas (creator of the 'spinning bit' manner of drilling). Amazingly, there was 'belief' that oil WAS 'there', but the MONEY 'ran dry'. To the rescue came the Pennsylvanian's (from PITTSBURGH!) - James McClung & John H. Galey...with 'borrowed $ from A. Mellon'. Beaumont, TX went CRAZY!
Things were vastly different from Pa. geology out in Texas. The Texas area(s) ended up being MORE productive than Pa.'s oil endeavors AND the Ca. gold rush! People swarmed in from EVERYWHERE! One needs to read for themselves how INSANELY CRAZY this was. Read about S.L. Fowler, the Osage Tribe, Columbus Marion Joiner (King of the Wildcatters), Harry Sinclair & Frank Tanner (Cherokee), wildcatters, the 'shooters' +++. THIS is MILD, yet very important to the LANDOWNER.
It IS a shame that the situation is in some ways similar to what is being experienced here. LAND is what we have. LAND (or better yet - what lays BENEATH our feet) is what THEY 'want'. WE haven't come to the understanding yet that what is HERE is very important to any & all endeavors with the g/o industry. Yes, there ARE 'other fields; in other places, BUT supposedly from what I've read = THIS MARCELLUS (& UTICA +) 'hold/contain' MORE in her belly than the others.
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The ECONOMIST (Feb. 2-8, 2013), p. 14 & 15 @ www.economist.com/debate/overview/246 --- ONLINE DEBATE from Feb. 5th - 17th...concerning 'AGREE -or- DISAGREE' as in "This house believes that the benefits derived from shale gas outweigh the drawbacks of hydraulic fracturing."...what do you think? (Supported by Statoil) again at:
www.economist.com/debate/overview/246
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This IS a good thing. It IS fortunate that we have, ON *Ameri*CAN* soil the blessings of gas & oil - AND the 'blessings' that can & hopefully will be bestowed UPON the *Ameri*CAN*s (just thought of this 'can' - also as in CAN of OIL!!!)
Yet it STILL is a somewhat 'unknown thing' (in general to the landowners involved - in the respect that even though they are 'shown'/told all the 'GOOD aspects' - pretty pictures of how the land looks after it's all 'said & done with' +...they really CAN'T KNOW & UNDERSTAND 'bad water', nasty land, unethical practices, wilted promises (not all that glitters IS 'gold'...). EVERYONE 'likes the CASH' (it DOES 'take the cash to PAY THE RENT' - be it 'rent' or 'mortgage' +).
AND...***if you CAN'T 'pay the bills' - you're DOGMEAT!*** (some shop operators in Niagara once shared this with us - and THAT 'stuck in our minds' - like the 'it takes the cash to pay the rent'). Does THIS then mean that Halcon is 'DOGMEAT'?...in honesty, doesn't matter IF or if they aren't 'dogmeat', but these individual LANDOWNERS should in NO WAY be HELD HOSTAGE by this situation with Halcon/CXmc2. But my opinion matters naught, I just pray that we are NOT 'stuck' in the day & age of 'the Texans' - early 1900's ) about 1901- 1930's...THINK about THAT - this isn't 100 years ago.
Be Wise. Do your best, don't beat yourself up, go SLOW (what's under your feet ISN'T going anywhere - unless it gets 'taken' by another well...BUT if you AREN'T 'included' in that 640 acre drilling block - that's goofy, too...'rule of capture' law taken from the English back in the 1600's SHOULD be changed - especially given TODAY's 'advances' in technology...but THAT is 'for another day'.... KNOW that you aren't going to 'nail it all down tight', but you sure can TRY!
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Here is one thought: in ANY future 'lease deals'...one MAY want to stipulate these thoughts:
1)The lease shall continue in force and the rights granted hereunder be ...for a term of two (2) years...a lawyer can better make any stipulations for anyone...I truly cannot.
2) This lease shall become null & void & all rights of either party shall cease & terminate unless within one (1) month from the date hereof a well shall be commenced (see above statement #1) on unless the lessee shall pay a delay rental of 'x' dollars.
---something to these effects...but your lawyers will know more of what is mentioned here...maybe these things WERE already mentioned in your lease(s)? As I stated, I am NOT 'a lawyer'', but had this thought to offer.***As a 'group'...it MAY be possibly best if specific '640 acre blocks' need to be so designated, one would think...anyway, God bless you all. HE has everything in His command...I know that THIS brings 'no peace' to some at this time, but HE does command all.
As one light lights another, nor grows less - so nobleness enkindles nobleness. All will become known...have faith. Resolve.
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Permalink Reply by ShaleAdvice (Steven C. Townsend) on
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M&P will not sue Halcon, plain and simple.
If there is a landowner who believes they have a case against Halcon and/or M&P please contact me. I will review, at no charge, your agreement with M&P as well as Halcon. If there is going to be further litigation it will depend on what was signed and what the landowner was told before being induced into signing the agreement(s).
"Options" "Consideration" "Fiduciary Duty" "Duty to Speak" " Material Omission" are a few of the issues that we have already litigated.
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Permalink Reply by Samuel J. Orr on
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Shale Advice: That is a very gracious offer. I hope that disappointed landowners will avail themselves of your offer. Even if they have no remedy, they will at least understand why. Better the devil you know than the devil you don't!
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Permalink Reply by Mike C. on
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You guys should contact Jim L. He made a lot of those guarantees so I am sure he is well aware of what M&P has up their sleeve.
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It seems many on this site are having lawyer troubles; either they didn't have one when they needed one, or they had one that took advantage of them. In this case, it seems incongruous to me that a group sophisticated enough to interview multiple law firms to represent their entity would choose one and then agree to have that law firm join the entity as a shareholder. I wonder. Was the equity interest in exchange for legal fees? Was this an effort to obtain legal representation without paying an hourly? Did any of the other interviewed law firms suggest they should be made a part of Terra?
It is always a very bad idea to have a lawyer as a business partner where that business is relying upon the lawyer for legal advice. Good lawyers don't confuse their business with their clients' business. If you hire a lawyer and don't like the legal advice, you can always fire him. You cannot, however, fire a business partner. If you want a "legal arm" for your corporation, you are going to have to hire full-time, in-house counsel. Otherwise, you are going to have buy legal services on an as-needed, hourly basis like most businesses in this country, subject to any lawyer's or firm's conflict of interest rules.
Vilifying lawyers as a group is silly and potentially harmful to those in need of legal services. Good and bad people in the legal profession exist in the same percentages as they do in the general population. Contrary to views expressed in reply to this posting, sharp practice is not a law school course. Quite the opposite is true, and great effort is expended teaching ethical practice. The problem is that some people are just innately crooked, and can't resist taking whatever they can get their hands on. Some of those people are lawyers.
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Permalink Reply by p umpjack on
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if what you are saying is...hire your own who is working for you and not a entity that is also working the deal for themselves=both sides of the transaction.
I would agree while I despise and respect lawyers and use them for finality in my business dealings
I liken it to going to a doctor getting his diagnosis on a broken arm then trying to finish the project using the arm to hammer some more nails with it
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Permalink Reply by Daniel Rupert on
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Yes! And to add insult to injury...Not only did I TRUST this attorney,even though he was working all angles, but he lives in my hometown ( and his Mother lives in the same neighborhood as my Mother ). I want the monies that were stolen from me...but even if I don't get another dime...I do not want this attorney doing this to anyone else, ever again!!!
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Permalink Reply by Daniel Rupert on
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@Mr. Senich...you make some very good points sir! I have many friends that are attorney's that are excellent human beings, Fathers, husband's and friends! I re-read my post and I have to admit ,I may have come off a little bit harsh against the profession as a whole.We do need them in our society and they play a vital role ! Sorry if I offended anybody, as that is not my intention on this post or any where else in life! BTW... in my case, this attorney was my partner in a sense( and others ) in this deal, (he is the owner of an oil and gas company& owner of a law firm, and was the landman ) and without going into detail, had layers of confict's of interest!( he also had financial partners via venture capitalist's and associated drilling partners ) There are literally millions of dollars that he, via concealment manipulation,and has stolen and pocketed!
Lastly, your last line sums up what happened to myself and my partner," THE PROBLEM IS THAT SOME PEOPLE ARE JUST INNATELY CROOKED, AND CAN'T RESIST TAKING WHATEVER THEY CAN GET THEIR HANDS ON. SOME OF THOSE PEOPLE ARE LAWYERS." Yep!...HE WAS!
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Permalink Reply by Samuel J. Orr on
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Supposedly the U.S. has 90% of the world's lawyers and continues to churn out more. Supposedly a current law school graduate has a 50% chance of finding a job in the legal profession. When you get too many people in a profession and there are too few jobs, inevitably some of these people will to bad things to earn a living. A number of law schools should be shut down. I rest my case!
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Permalink Reply by Daniel Rupert on
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Excellent point and well said Mr. Orr...
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