Release of Oil and Gas Lease

Can anyone help me with the following:  We signed a lease with Gulfport in July 2011.  I saw where it has been assigned and reassigned a few times - but now in October 2013 it shows a document was filed signed by Gulfport titled Release of Oil and Gas Lease with it surrendered back to us.  What does this mean?  Could it be as simple as a clerical clean up since I see where it shows under our name with a middle initial and again under our name without a middle initial?  No one contacted us I just found it when doing a cursory check.

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Permalink Reply by earl miller on December 27, 2013 at 4:30am

kas  were is your land at in harrison

Permalink Reply by earl miller on December 27, 2013 at 4:32am

i lease with gulfport in 2011 to i am in morefield twp

Permalink Reply by mlb on December 29, 2013 at 4:26am

I had a release of an older lease done as there were some legal issues that made the old lease invalid.  With some reluctance the gas company released the lease and filed it at the courthouse ( the old lease was poor in almost everyway and I nor my family really made any upfront money from it ).  So immediately after the release I was able to sign a new lease, get bonus money etc.  My situation was not ordinary.  There were some title issues the 1st gas company made huge errors with so that enabled me to get the release.  But I would say if you have a release and its filed at the courthouse then you are free and clear and can lease again.  Perhaps best though to find out why you were released, circumstances before proceeding.  Hope it works out for you.

Permalink Reply by Shower Bath on December 29, 2013 at 5:54am

Gulfport had assigned and reassigned a few times? Can you tell us who was involved? What twp. is your property located in? To be released early in Harrison Co. does not make sense.

Randy

Permalink Reply by KAS on December 29, 2013 at 9:46am

I think I figured it out.  There were 2 leases showing for the same land (although we only got paid once lol) - anyway one was filed with our middle initial and one not.  All the subsequent reassignments were done under the no middle initial listing,  So they released the one with the middle initial.  I am in Belmont county Goshen township and this occurred about the same time they contacted us to check our water.  They said they are getting ready for the the Packsaddle Mcfarland well that we will be a part of.  

Randy - looks like it was assigned to Axebridge Energy then Windsor Ohio and Rhino Exploration and then back to Gulfport.  

Permalink Reply by Shower Bath on December 29, 2013 at 1:07pm

I've never heard of Axebridge Energy, although they may be another affiliated company of Wexford Capital LP, as are Windsor Ohio, Rhino Exploration, and Gulfport Energy. Goshen Twp. should see considerable drilling activity in 2014/2015 as Rice and Gulfport ramp up in Belmont. Good luck.

Randy

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on December 29, 2013 at 5:46pm

Axebridge has a working interest with GPOR.

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