I have signed a lease with Ascent Resources for my property in Ohio. The order of payment says 120 days to pay. Does anyone know if they pay early or if they will take the whole 120 days? Just trying to get a feel for what is typical payment history for them.
Probably be 120 days. and those are business day! don't count weekdays,or holidays.
Nope, business days
That's a depends question.
It is possible the company would pay "early". However, my guess is, that the company will take
the 120 days +/-. One reason - title work must be performed and from star to finish that may take
a few weeks. With the company aggressively taking leases there is a back log on the title work.
Just depends how soon after taking your lease that the title work can be performed.
Plus the other processes involved. No lease is set for payment until title work is done. That process
is done next.
These are general statements and situations vary from company to company and area to area.
Look at it this way, forget about it and one day you will open your mail box to a surprise.If you want to
mark your calendar 120 days out. BTW, those are 120 business days.
Summer run don't walk away from Ascent. THey started as Great River Energy then renamed to AEU .then to something else now its Ascent energy. Hundreds if not thousands of people signed up with these guy and they never paid and never removed the notice of memorandum. I am one of them, They would not pay me. they don't even have an office with a human. Call their number and you will get an answering machine. I signed with them and they were supposed to pay in 60 days. it was over a year before i took legal action. I got better over during that time from Rice Energy But could not sign because of those criminals. I had to have an attorney file a notice of forfeiture before they finally paid me over 14 months later. I have another lease with them on a small city property that was signed in 2013 they never paid and the notice of memorandum is still on there but not worth it to hire a lawyer since its a small city parcel. They even sold it to XTO without even paying me the promised bonus!!!! Good luck but i would recommend not to deal with this company. You can ask Al SMith in Bridgeport , he the person who had a land group with these guys and people got screwed. http://www.eougroup.com/aboutus.htm
They'll keep your lease without paying you as long as they can. They will only pay you after they find a company to flip it to for a huge profit.
here they are being sued for fucking many landowners . the name has changed but the same criminals at the helm. they change the name so its difficult to sue them.
Listen here .fIRST OF ALL WE ARE NOT BUDDIES!!! You're an Ascent Resource shill. I've researched all negative posts on Asecent or AEU or whatever name they call themselves these days. Matt the pimp is there to defend Ascent AEU Grreat River AEP whatever. All one has to do is google Ascent Resources and lawsuits and all will be revealed. I posted links of hundreds of people who were never payed and missed opportunities because of these crooks. Ascent is one of the worst to be leased with.
SO MATT WHAT IS YOUR CONNECTION TO ASCENT? DO YOU OR A FAMILY WORK FOR THEM OR LEASE FOR THEM???
orange energy--->great river------>to american energy partner-----american energy appalachia----to american energy utica-------to Ascent resources. None of the leasing companines exist anynore they were created just to sign leases and dissolve when it was time to pay the piper. The land group in bridgeport East Ohio Utica Group won't sign people up and on their website they acknowledged many people were never paid.
Anyway you've been warned believe me or believe the Ascent shill. There another thread on here about Ascent screwing land holders.
Unless your lease say otherwise, they can choose calendar or business and will surely choose business to give themselves more time.
I had a choice last fall between Ascent and Gulfport; one of the differences is that Gulfport was willing to reduce their timeline to 60 calendar days and Ascent was firm on 120 business days, which could approach 7 months depending on how many weekends and holidays they claim.
My lawyer has dealt extensively with both and feels strongly that Gulfport is better for landowners.