Replies to This Discussion

Permalink Reply by Finnbear on March 9, 2014 at 4:07pm

If Great River already paid you, they've already filed your lease with the county. How will you undo that? Ohio is a first filing state.

Permalink Reply by Rick on March 9, 2014 at 4:34pm

Every company files the lease with the county prior to paying the bonus money.  If I cash the check this would accept the lease but since they are over the time limit and if I return check and not accept the lease is void

Permalink Reply by martin on March 9, 2014 at 4:57pm

We are still waiting for payment from Great River. It has been around 170 days. It's a shame how they do business. They bought up all the competion around here so we have no choice but to sit here and wait.

Permalink Reply by Finnbear on March 9, 2014 at 9:06pm

How will you undo that? Can you get Gulfport to issue a good check before the Great River check expires?

Permalink Reply by Rick on March 10, 2014 at 8:13am

I  am sure Gulfport will not issue a check until the Great River Lease is removed, either by me or Great River.  The big question arises as to accept less money from Great River or wait for better lease and more money from Gulfport.  Definitely need written guarantee from Gulfport.

Permalink Reply by Finnbear on March 10, 2014 at 9:40am

A bird in the hand...

If Gulfport is serious about leasing your property, have them escrow the payment, held by a third party, released to you upon the release of the Great River Lease. A win-win for both sides.

Permalink Reply by adam sorell on March 9, 2014 at 9:06pm

Rick how many acres did you lease. Just asking because of my cherry picking theory. I think you every right to lease with someone else. Great River got a option contract with no investment which is wrong now that i think of it. If they broke the agreement you every right to lease with someone else.

Permalink Reply by Rick on March 10, 2014 at 8:15am

Not many acres, but with that being said I had two small parcels that they also paid for that were not even close to the original acreage.  I really don't think they a cherry picking they are just way behind.

Permalink Reply by adam sorell on March 10, 2014 at 12:26pm

Rick that is good news. I really need the money.

Permalink Reply by adam sorell on March 23, 2014 at 2:53pm

AMERICAN ENERGY – UTICA, LLC AGREES TO ACQUIRE 130,000 NET ACRES OF SOUTHERN UTICA SHALE LEASEHOLD FROM AFFILIATES OF HESS CORPORATION, EXXON MOBIL CORPORATION AND PALOMA PARTNERS; BRINGS SOUTHERN UTICA POSITION TO AN INDUSTRY-LEADING
260,000 NET ACRES
OKLAHOMA CITY, FEBRUARY 3, 2014: American Energy – Utica, LLC (AEU), an affiliate of American Energy Partners, LP (AEP-LP), announced today that it has signed three agreements to acquire approximately 130,000 net acres in the southern Utica Shale play from affiliates of Hess Corporation (NYSE:HES), Exxon Mobil Corporation (NYSE:XOM) and privately-held Paloma Partners, LLC.
These acquisitions will bring AEU’s holdings of southern Utica Shale leasehold to approximately 260,000 net acres, a level that is the largest in the industry and of which approximately 90% is located in the core of the play, defined as southern Jefferson, Belmont, eastern Guernsey, Harrison, Monroe and Noble counties. AEU plans to drill approximately 2,700 gross wells and 1,600 net wells in these counties over the next decade.
AEU’s lead equity investor is Houston-based The Energy & Minerals Group (EMG), with additional equity provided by First Reserve Corporation, AEU management and others. EMG manages a family of funds that invest in the energy and minerals sectors and have approximately $8.4 billion of assets under management.
###
About American Energy Partners, LP:
American Energy Partners, LP was founded by Aubrey K. McClendon in April 2013 to capitalize on opportunities available in unconventional resource plays onshore in the U.S. For additional information, please visit www.americanenergypartners.com.
About The Energy & Minerals Group:
The Energy & Minerals Group is the management company for a series of specialized private equity funds. EMG focuses on investing across various facets of the global natural resource industry including the upstream and midstream segments of the energy complex. EMG has approximately $8.4 billion of total investor commitments (including co-investments) with approximately $5.2 billion allocated across the energy sector since inception. EMG is wholly owned by the management team of EMG. For additional information, please visit www.emgtx.com.
About First Reserve Corporation:
First Reserve is the largest global private equity firm exclusively focused on energy. First Reserve has offices in Greenwich, CT; Houston; London and Hong Kong. First Reserve has completed more than 475 transactions and its portfolio companies operate in approximately 50 countries and span the energy spectrum from upstream oil and natural gas to midstream and downstream. For additional information, please visit www.firstreserve.com.
AEP-LP MEDIA CONTACT: Mr. Steven Lipin, Brunswick Group, 212.333.3810, slipin@brunswickgroup.com

Permalink Reply by Finnbear on March 25, 2014 at 12:19pm

Go big or go home seems to be their strategy.

Permalink Reply by ronald cunningham on March 26, 2014 at 12:43am

179 days and counting

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