Eclipse mortgaged our lease......

I recently saw on the county court house site that an amended mortgage lease( and various leases in the area) had been put on our mineral lease....Eclipse Resources mortgaged our lease to The Bank of Montreal. has anyone experience this with their lease and what exactly does it mean

 for getting in a unit now.

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Permalink Reply by bo boboski on May 16, 2016 at 12:23pm

They may be borrowing $$$ using your minerals as collateral. There may now be a lien on your property. I;ve heard tell of landowners finding this out when they tried to sell their land,or borrow $$ on it. having that lien may cause a problem in those cases. Dont think it has anything to do with the drlling schedule.

Permalink Reply by Joseph-Ohio on May 16, 2016 at 1:16pm

I don't understand what the lien could be held against unless there's a lease and a default on the mortgage payment.

What happens if the lease is not renewed ?

To me, if the lease expires and is not renewed, it would seem that any lien against assets would have to be against the assets of the lessee who is obligated to pay the mortgage note.

If the lease is renewed, it would seem to me to be another matter; but, any lien would still seem to me to be held against the lessee as it is the lessee's asset held to mortgage.

Am I missing something here ? ?

Permalink Reply by bo boboski on May 16, 2016 at 1:42pm

'some', lawyers may know,some may not.

Permalink Reply by Rickey L McLaughlin on May 16, 2016 at 5:41pm

Just another cheap trick shot

Permalink Reply by Markus on May 17, 2016 at 12:29am
Permalink Reply by searcherone on May 17, 2016 at 2:18am

Looks as if property owners in other counties where Eclipse has leases need to be checking for liens on their properties.   

Thanks Markus for posting the link to the previous discussion.

Permalink Reply by Rob Rotz on May 17, 2016 at 4:45am

Catt,

how and where did you find this mortgage info on your lease ?

Permalink Reply by catt on May 17, 2016 at 12:05pm

County Court House....Look at the site landaccess..com they have all the things listed under your name....whatever is public record.  Also ...I have checked with other family members that have been in a unit and this also happened with their leases  before they got in a unit; although it was other companies.

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on May 17, 2016 at 9:05am

Chesapeake did the same in Ohio with a huge number of leases (ALOV & SURE).

I asked questions of the Land Owners Group folks who assured me it wouldn't affect my land the same as a mortgage I would take out on the property for a loan.

Our leases don't give Chesapeake possession of our land. The lease only allows them to steal from us by doing what they want, regardless of what is in our leases.

Some kind of National Tradition or State Treaty, or maybe a Criminal Act Holiday/Stay Out Of Jail Free for a Campaign Donation/Small PAC Fee.

Permalink Reply by Thomas Malcolm Pendergast on May 23, 2016 at 7:28am

I don't know if this is in any way relevant to the issue you raise so this is just an FYI:

Eclipse Resources hired Nine Energy Service to drill a well called "Purple Hayes" in Guernsey county which was completed last week.

This well set a world record:  The longest land-based lateral (3 1/2 miles) with the highest number of fracturing stages (124).  The longest offshore laterals are off the northeast coast of Sakhalin (7 miles +) drilled by Parker Drilling for Shell and Mitsubishi.

Permalink Reply by james mcmeechan on May 23, 2016 at 7:51am

  It is quite common for producers to do this. The lease itself, not your property, not your minerals, are being used as collateral, most likely for a line of credit. Producers will do the same with pipeline  right of ways, even small gathering lines if they have enough of them.

    

Permalink Reply by catt on May 23, 2016 at 12:22pm

Thanks, James......checked with some other people and they had this happen with their leases a few months ago, also.

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