Has anyone had a lease recorded befor being paid signing bonus and not been informed by the energy company?

My family has had a lease offer in place since February 2014 with a large energy company. After the initial 75 day due diligence period  we were asked to have declaratory judgment on title issue that the oil and gas company believed was not very significant. No other issues apparently in play. We have hired council to take care of declaratory judgment.

We have been contacted by a competitor and asked if signing bonus has been paid, if not, they would like to steal the lease. We told the company that we have not been paid and would discuss with our council.  

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Permalink Reply by Barry D on November 15, 2014 at 2:00pm

Stephen,

An Oil and Gas Lease is a contract, a binding contract by the terms of the lease. Be very careful. My advise would be to wait for your council to perform their work. Since you have council put the question before them.

There are too many crooks in this business willing to say and do whatever they have to in order to make a "buck" Which means that many would stoop to lying.

Be careful.

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