I have been with Eclipse resource for six years last year I signed a renewal on my contract and opted for one year the payments on the signing bonus because they told me it would help them extend the cash for drilling and I said everybody was doing it and today I got a phone call saying they not going to give me the cash for my lease payment this year and we want to terminate your lease I don’t know what to say at this point , any thoughts?

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BRMR will be controlled by Encap. which will do the same with them. eventually i see just a few huge companys in the shale space.

Right. If a company can make more money by consolidating then they will continue to consolidate. We see it more and more each and every day. You either buy someone in your backyard or you buy something in another basin. EnCap is in the business of making money and apparently Eclipse wasn't impressing their financial backer. 

Penn Energy/Rex deal same thing. they may try a Penn Energy public offering or attempt a cash buyer. Eclipse stock stayed low after the Travis Peak deal and Encap could not get a return. the reality is financiers may have destroyed one of the industrys most technically innovative e&p companys from a boots on the ground perspective, over financial decisions. i saw it first hand when Riverstone Holdings thought they could run production from Wall St.our production was 500% higher when we made decisions based on field reality. they bankrupted their own investment.

Thanks Tom I appreciate the input if you hear anything let me know
Euthanized HUH? Tankers and other trucks can be heard moving up Broughton hollow, often at night. Doubt they all belong to JP farms however. Other gas company pickup trucks from other companies are often observed and heard from out house. Living back with a great many trees between house and road makes it hard to identify what trucks they are.
Granddad Ladd

i am expecting activity here to proceed as planned. the "team" will have all new players. the founder and senior managers indeed have been put to sleep and will not wear the team uniform any longer. i imagine a winning ball team giving up their uniforms to all new players with a ho-hum record then trying to convince us they  can win. we'll need to play awhile to see.

Walt, my guess is there is nothing you can do. Sounds like you did not sign a paid up lease, but a delay rental lease. Under a delay rental lease they can choose to continue the lease by making an annual payment for your agreed-upon $ amount and number of years, or they can choose not to pay and the lease expires. The third possibility is that they can drill a well, and then your property is held by production and they don't have to make the annual payment anymore. Sorry it did not work out for you like you had planned, but perhaps you can lease the property again now.


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