D&L Energy

Has anyone in the northern Mercer County area (Kennard/Osgood) been approached by a land man from Midwest Land Services, representing D&L Energy?  I have an existing 10 year old lease with one well and they left me, on my porch, an amendment to unitize my 23 acres.  It doesn't have any other changes to the lease other than changing the size of the pooling and unitization to 1,280 acres.  I called the guy who left his card and asked him "what's in it for me?"  My question is, do I have any leverage to get a higher royalty percentage or up front money and should I see an O&G attorney before signing anything.  Anybody else have a situation similar to this?

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0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on January 23, 2013 at 9:52am

Don't sign anything.  Call an attorney.  Then they'll tell you D&L is a representation of every bad stereotype in the oil and gas industry.  There's nothing in it for you unless you force them to give you something.

Permalink Reply by CL on January 23, 2013 at 6:03pm

I have a D and L lease and have spoken to a guy from Midwest who is requesting the same lease amendment. We do have some leverage.  I have contacted an attorney I know that has some Oil and Gas experience. We have some  leverage but more if we stick together and even more if we can get the other owners in that area to join with us....form a sort of land group. We probably wont get bonus money but I have heard of some success getting a higher royalty and possibly cleaning up some areas where we are exposed in the old D and L leases....there is a way we can communicate privately...think if we send a friend invite to each other

 

cl

 

cl 

Permalink Reply by Billy Park Whyde on January 23, 2013 at 7:06pm

Anytime someone wants you to sign a document except a traffic ticket, perhaps the IRS as a rule you do have the hand as it requires your hand or they wouldn't be asking.

015334grltd9mPermalink Reply by 015334grltd9m on January 23, 2013 at 7:49pm

They're back and they are trying to clean up their mess.  Remember the Youngstown earthquakes?, that's right ! D & L Energy.

Their old leases are faulty and they are trying to prepare them for a sale, it is their history IMHO. 

Permalink Reply by John on January 23, 2013 at 8:21pm

I thought I heard one time that Halcon bought all the D&L leases in Mercer county?

Permalink Reply by ESCALES5057 on January 23, 2013 at 8:28pm

The property on both sides of me just signed with Halcon a few months ago.  The guy from D&L mentioned Shell when I talked to him.  He said they're trying to get all the leases unitized so it's ready to drill when Shell (or whoever) is ready to move.

Permalink Reply by CL on January 23, 2013 at 9:07pm

John

where did you hear that? I have a D and L lease in ESCALEs area. I know Halcon is interested in our area but I have not heard or been told that Halcon Bought D and L  leases

 

cl

Permalink Reply by tnc on January 23, 2013 at 10:09pm

I have the same guy trying to have us sign the modifacation. I cantacted my  attorney. The land man  told us if we do not sign they would go around us. He gave us 3 weeks to sign.

Permalink Reply by CL on January 23, 2013 at 11:18pm

Todd

where are you lcated?

cl

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on January 24, 2013 at 9:12am

If you sign that modification then you deserve everything you'll get from it.

Mike MurphyPermalink Reply by Mike Murphy on January 24, 2013 at 4:20pm

IF U SIGN FOR 1280 UR ROYALTIES PER WELL PER ACRE WILL BE HALF

Permalink Reply by John on January 28, 2013 at 6:53pm

CL

A guy told me a few months ago he seen the transfer on the mercer county recorders site. I have tried to see it but can't find it, but I'm not very good at finding my way around sites like that, so I don't know?

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