Has anyone been approached to ratify an old Enervest lease? Were you able to get anything for signing ?

I have an old Evervest lease and have been approached by AEP to sign to have my acreage included in a larger unit. Am I able to receive any money or improve my royalty % to sign?

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I have not been approached by Enervest for a lease amendment.  You should be able to improve your royalty % and get a per acre signing bonus. 

Your acreage size will determine your leverage on this.  

 

 

State/county/twshp?

 

 

 

Guernsey County.Londonderry Twp.

How many acres do you have ?

45

What road are you on ?

Noble County, Olive Twp.: I was approached about 2 months ago by an AEP rep wanting to amend an Enervest lease. Take it from 640 to 1280. Talked to several of my neighbors that he had mentioned. The rep told me point blank that if we all didn't sign, wouldn't see a well. Most are old HBP, however, I sued Enervest to get my rights back, due to a written in clause by my dad, back in 74 when it was signed. Was able to get them up to 15%, no surface, and that was the important part to me. Didn't want them to come in and just do what ever they wanted. Not the best lease terms, but I ok with it. Haven't heard back from the rep since I made him mad and told him that no one was going to sign because they felt they were getting ripped off by not getting a signing bonus. When he told me that I wouldn't be in a well if I didn't sign, I told him that I didn't believe Aubrey paid between $13,500 and $15,000 an acre to just let it sit there. That was when he got mad, and left my house. His name was Justin Ayers and he said that he had worked with CHK when Aubrey was there and now worked for AEP. Had nice maps showing me our land and how many acres would be in the unit. Told him we could sign and the map could change, do you homework before hand. I had sold a small share of the 150 acres + that I had, and spoke with the people that bought it. When it came down to it, they could not say for sure if it would be a good thing, or a bad thing. All people in the unit, if you can figure that out, need to work together. While he was talking, I was studying the map, went to the courthouse, map room, and got copies of the sections, and can almost name everyone that he would need to make this happen. Good luck to all! AEP, I don't trust at this point.

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