I was just wondering why no one has posted anything about CX energy holding an informational meeting at the Grove City High School Auditorium this Thursday at 6:30pm. 9/12/2013 ?
I was not in the first signing with them last year and was sort of glad I didn't go through the disappointment that the ones that did sign went through. It looks like they are trying to sign new members.
Fang are those $6,000 / acre offers for land in Washington County, Ohio; or on Washington County, Pennsylvania? And if you know, what O&G company or companies are making these offers? Finally, are these offers for O&G leases in the Marcellus Shale or the Utica or in areas where the Utica and Marcellus are both of sufficient thickness to be economically viable? A final question is what infrastructure is available in the area where these attractive offers are being made. I realize that where there is oil, infrastructure is less important since oil can be hauled away in trucks. Lack of infrastructure (pipelines) may be of more concern in areas where there is only gas!
Fang F Fang , I have been following you for several years now and you have been right 100 % ! I try to learn from your knowledge. My Husband and I own a 76 acre hay farm and have a rescue for animals. My Husband is not in the best of health but would love a vacation. Have not had one in 13 years. What, if anything.... do you see in the future for Hookstown, PA., Beaver County ? Thank you in advance... for your opinion and advice ! ps. We signed with Chesapeake 2 years ago. ( Dr. Bills are paid ! YEAH !) God Bless, Nancy
You say to hold out and wait, but don't you risk that they will exclude your property in a unit? In my case if I would have held out any longer they would have excluded me, because the wells got drilled. The last time I looked there were some land owners who are excluded in my unit.
An odd observation perhaps ... but any time landowner groups do well w/CX there are postings that swear landowners would do much better on their own, or with a specific lawyer. This has proven to be so false for so many landowners... not because of the upfront numbers or royalty percentages ... anything can be posted. A gas/oil company lease must be industry friendly or that company won't stay in business. It's the fine print in clauses that take up all the pages following the numbers that have the capability of taking away everything signers believed they would be receiving.
Without having representation that has an established footprint in countrywide and global energy deals, landowners don't get the solid leasing experience they deserve. If individuals believe a lease must be signed simply because it's one most in the group choose to go with, they really haven't done their homework. CX-Energy (and likely other representatives) don't work that way. Like what's negotiated for you or walk away, OR let the negotiating team continue to work on your behalf. Regardless of the hours involved, good representation doesn't get paid until you get paid ... and then only on the upfront money.
Negativity doesn't belong on this site. Good information does. People read the issues raised because they want to know more ... positive steps in dealing with their OGMs.
Please note that also included in posts is the mention of other representatives. It's up to each landowners' group to do their own homework.
As for the "gotcha feature" some posters refer to in CX contracts, it's simply not so. Now who's not reading the fine print?
Now who's hoping OGM holders stopped doing homework as soon as they graduated from high school? People can determine for themselves whether CX can serve them well. They don't have to rely on any "reply" note here on GMS. Just check out the top marketing firms in their own areas. If all they're interested in is promised numbers then call in the land agents. It won't take long for the truth to come to light after that ... but then it's too late.
Few total county groups are leased totally @ one time, but I'm sure the well-educated public is already aware of that. Geology varies throughout each county ... not always super, but definitely as in real estate deals ... land is what it is in value. It's location, location, location. EX.: If a neighboring township gets leased before mine, it simply means I have to wait a little longer. This may not thrill me, but I'll live. I KNOW CX will continue to work for my area until we all get a satisfactory lease. It's part of the contract.
How well readers understand the situation will determine how solid a lease they get. Got nothing?? Mercer people (& all others) signed w/CX have a hard-working professional organization with a strong established footprint in the energy world to market and negotiate for them. When a lease is presented that pleases OGM owners, those owners sign. They get paid. When that happens then the leasing company pays CX their share of the upfront $$. Doing the pay-out in this fashion means Uncle Sam taxes OGM owners and CX separately. It wouldn't be fair to do otherwise not that that always occurs to Uncle Sam. Owners only get taxed on what actually goes in their pockets.
Note the contract between OGM owners and CX is a 2-way street, like all contracts. Both sides are obligated to honor any contract. You are obviously referring to a situation where one side failed to honor a signed contract. I'm no lawyer but isn't it logical that whoever breaks a contract can expect some kind of retribution from the other side?
Check your law books.