CX wants bonus money back??

Friend of mine was in the group of people here in western PA who signed with CX, told they had a lease pending, and then later "dumped."  Of course several of these people, my friend included, went on to sign with Hilcorp or other companies and received bonus payments.  If memory serves me correctly, this all happened well over a year ago.  This person received a letter from CX this past week requesting to be paid 5% of the bonus money they received from Hilcorp.............for a lease that CX would've had absolutely nothing to do with.  PLEASE tell me I'm missing something here, that there's legitimacy to this claim by CX, and it's not just more greedy lawyer BS?? 

Views: 1474

▶ Reply to This

Replies to This Discussion

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on November 7, 2013 at 3:20pm

It depends on what the CX marketing agreement said.  If they had an exclusive and any lease was signed outside of it they may indeed have a claim to the money.  Tell your friend to get a lawyer and have him/her look it over.

Permalink Reply by Jason on November 7, 2013 at 3:32pm
Marketing agreement he/she signed has a clause that in order to be released from the contract they needed to notify CX.
I know - I was one who wanted info on how to leave the group and negotiate my own deal if CX didn't come through.
Member - Mt Jackson group 1
2z248p19vqnh9Permalink Reply by 2z248p19vqnh9 on December 31, 2013 at 10:00am

Fang, can't recall where I wrote what I found out, but doesn't CX/MP broker with the O/G Co.'s 1st before they send out their 'carrots' for 'getting the best deal for the landowners'?...and I believe posted that they are based in Wexford, Pa. (or nearby there somewhere...).

Groups & Groupies - sounds like mutual fund madness to me. Sure, they'll 'help you invest your money' - while feeding their pocket (which is fine). 'People' overall have forgotten HOW to read & think for themselves...ticker tape wasn't that long ago in the past...this internet has made geniuses of us all...for better or worse.

I CAN understand the predicament when you don't have a substantial 'block' of ground to steer one's ship from - and THAT is not to say that 1, or 10, or 100 acres is 'small cheese' - it's just that where the G/O contracts are concerned - even 300 acres may not be enough pull, unless you are in a 'zone/sweet spot'....

It's simply rediculous - the landowners get swatted about like flies - and when one attempts to BEST 'dot the i's, cross the t's', STILL gets swatted - and then it is even worse in some cases. Classic case of 'fool me once - shame on you, fool me twice, shame on me'...Fang, we ARE Amer-ICANs, are we not?...

...Whiskey Rebellion was a hornet's nest for this countries country citizens - that they got hood-winked EVEN by our illustrious GW (George Washington...).  

------------------------

Best advice - ALWAYS KEEP YOUR GUARD UP.

THAT is not in any way being 'pessimistic', just PRAGMATIC. 'p vs. P'. Here's an example - you've got a GREAT idea - no one else has done it (or even thought of it - or so you think...)...you decide to take a gamble on it.

1) Some people will lover-think it to death.

2) Others will think it over, know that there are BOTH sides of the coin (as well as account for the 'edge' of the coin) & decide either to go into things - both eyes open, or have at least ONE eye 'open'....

3) Others just fly by the seats of their pants, and...sometimes it works out - other times not so.

Hence - ALWAYS keep your guard up! IF your going to go in the 'safe, mutual fund' direction of 'power in numbers' because that, in your opinion IS the best for yourself - then good. You've thought out your options, weighed the potential outcome & thrown your punch.

BOTTOM LINE: try or die. (but be wise while you're 'sinking'...)...or swimming with sharks....

-----------------------------------

Now HERE is the opposing 'side of the coin' NOW that we've seen more of their (being CX/MP 'power plays'?/!)...they are beginning to develop a PATTERN. You can know a tiger by its stripes.

As one light lights another, no grows less - so nobleness enkindles nobleness.

***HERE is an option to consider in the LANDOWNERS effort to PROTECT THEMSELVES:

CX/MP - should be responsible to the LANDOWNER to give THEM a 'contract' in THEIR (the landowner's) best interest - for the landowner's protection...THAT would be best for the landowner. THEN - IF CX/MP wasn't willing to do so for 'their landowner clientele'...you'd be able to better figure that it/they MAY not be in 'YOUR best interest'...just a thought. Yours?...

*Audrey Dunbar, *excited but worried, *Chip Decker (***a 'landowner RELEASE' - GRAND!***),+++, *Fang...NOW that there have been NUMEROUS situations concerning this 'company's' manners in 'dealing'...this MAY be evidence of continuous misleading representation?

...Fang - no 'sads' - MAYBE NOW, no 'technically & legally...ENTITLED(?) to payment...

Robyn Hide/ROBIN HOOD! NORTHEASTERN HARDWOODS (we ARE 'HARD woods', are we not - we come from the 'school of hard knocks' & take a lickin' & KEEP ON TICKIN'!!!)

- GO HARDHEADS!!! ***NORTHEASTERN Amer-ICAN HARDHEADS*** ...has a ring to, don't it? We ARE the 'hardwood' ruler in the country  - Northeastern USA, correct? Sandy Lake, Pa. area has people from all over the world come to buy hardwoods from them (veneer & such...from around the WORLD - did you know that? Salem Hardwoods, I believe)....

Here's to the ***NORTHEASTERN Amer-ICAN HARDHEADS*** - Happy 2014! May God bless us & keep us...we survived the Whiskey Rebellion & a whole lot more - NEVER GIVE UP! 

NEVER GIVE UP - ***YOUR***SHIP! No one takes your power from you - you give it away.

He who stands firm.   ***LANDOWNER RELEASE*** for their protection from G/O 'operators'(?).

Permalink Reply by Audie Dunbar on November 8, 2013 at 1:31am

I am seeing more and more of this with these groups.  The landowner signing these agreements have to read before they sign.  The areements can be for ever unless the land owner send a termination in writing. the lawyers running these group can benifit from the landowner even if they don't do anything to bring a lease to the landowner, two or three years after the signing, if the landowner is contacted direct by the gas company.

As the gas companies are getting more and more selective on who they are signing up these groups are obsolete, and making money at the expense of the landowner.  No one should sign an agreement with a group with an an open ended agreement termination date.

Permalink Reply by excited but worried on November 8, 2013 at 11:16am

I agree that it may very well be within their "legal right" to claim that 5% but wow it seems a tough dishonest.  I'm sure the "written request for release" clause was buried somewhere in the fine print.  So ya we'll go ahead and file this maneuver under the "shady lawyer BS file."  Glad I didn't go with CX!!!. 

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service