Everflow Eastern sale to Chesapeake

I read the recent article in the Vindy about how the sale of the mineral rights to Chesapeake was a "windfall" for the landowners. This is complete and utter b.s. When those leases were entered into 20-25 years ago the intent of the contract was for the shallow gas rights. Eastern Everflow obtained the benefit of its bargain and still after this sale maintains the rights to the shallow gas rights. This "windfall of $35 million belongs to the landowners. 

Even more appalling is the suggestion that the landowners should freely sign lease amendment agreements with Chesapeake so as to allow for larger pooling agreement/units and not receive a bonus and the 20% royalty rights that most others are getting. 

I have several clients who are not going to stand for this and we are preparing for "war!" 

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Permalink Reply by Marty Yavorcik on August 7, 2012 at 4:55am

Jimmy, you got it. All of this needless banter aside, that is exactly the point of the lawsuit. In our case  Eastern Everflow bargained for shallow gas rights and they got exactly what they bargained and paid for. I can't wait to see how they answer to the fact that even after they sold deep rights they did not own they STILL continue to hold the shallow gas rights and are making money from them.

The intent of the parties is key. It will be hard for them to argue that they intended to acquire the Utica shale rights when they signed the contract 20 years ago w/o knowing they existed. 

Permalink Reply by hopeforoil on August 7, 2012 at 5:01am
No never been sued. No sour grapes. I protected myself by getting a qualified oil and gas attorney review my lease(s)
Permalink Reply by Marty Yavorcik on August 7, 2012 at 6:39am

good job Obi-Wan Kenobi i am sure you have found the only one there is ;-)

Permalink Reply by hopeforoil on August 7, 2012 at 6:52am
Well I found that there weren't very many in the area that were actually qualified. I had to interview several before I actually found one. There were however many like yourself that had been practicing oil and gas law for exactly one year.
Permalink Reply by Marty Yavorcik on August 8, 2012 at 1:55am

I represented a national developer of shopping centers and have handled numerous real estate matters for many clients. I am a former prosecutor, defense lawyer, and have tried numerous cases to verdict in front of juries both criminal and civil. There is no magic in saying you are an oil&gas lawyer. What matters is guts to fight for people and thankfully I have that! Judge me as you will I am still smiling! 

Permalink Reply by hopeforoil on August 8, 2012 at 3:08am
Good luck Marty. More importantly better luck to any fool you lure in with it only takes "guts" speech. You can have all the confidence in the world but at the end of the day if you are not qualified to do the job you will crash and burn. Ask our president about that one..
Permalink Reply by Marty Yavorcik on August 8, 2012 at 3:30am

I guess you never saw the movie Rudy....as for the president....not touching that one! Take care

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on August 7, 2012 at 7:21am

You know what's a great strategy?  Insulting everyone who isn't you.  That works wonders. Also, being indicted for money laundering gives you some solid street cred.  Stay classy, Marty.

Permalink Reply by Marty Yavorcik on August 8, 2012 at 1:41am

http://www.vindy.com/news/2011/jul/12/oakhill-epilogue/

Tell the whole story Mr. Grayson not half-truths that you seem to be good at. 

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on August 8, 2012 at 2:44am

I told the whole truth, Marty.  True or false, you were indicted for money laundering?

I never said you were convicted.  You'd think a trial lawyer would know the difference between an indictment and a conviction.  

Permalink Reply by Marty Yavorcik on August 8, 2012 at 3:27am

very slippery of you very slippery! I was a prosecutor and have indicted the proverbial ham sandwich........ It's ok I forgive ya! Take care

Permalink Reply by jb379 on August 7, 2012 at 9:25am

So let's suppose for a second I was overwhelmed by an offer of $10k/acre tomorrow for my small tract without any depth restrictions and signed this amazing offer, I can sue in 10 years when the "wiki-wiki" formation at 9,000' is discovered because it was unknown at the time of signing?  Or what if the marcellus and/or utica hit big time and the avg offer in 5 years somehow jumps to $20k/acre and poor old JB only received $10k/acre, I suppose I can cry crocodile tears and get a "confident" lawyer like yourself to come to my rescue and get me more money?  You are my hero....(vomit).  I love the society we live in where people refuse to look in the mirror and take accountability for their actions.... instead let the finger pointing and calls to legal teams begin! 

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