Has Gulfport re leased you

Our 5 year Gulfport lease is up for release or re leasing very soon. They have been pushing hard to renegotiate our lease in annual installments, no guarantee of more than a year payment.

We said no deal, we are choosing to stick by their original lease.

They say they have no money; what the heck are they doing with the millions of whatever measurement I don't understand coming from their four gangbuster producing wells they have here in Sunsbury Township, NE Monroe county Ohio ? Only Rice Energy has higher producing wells here abouts. We have called their bluff and said no way, pay up if want to keep your lease.

Does anyone care to share if their expiring Gulfport lease has been renewed and paid for ? Gulfport is counting on their leaseholders to remain stupid and fall for their bluff. But knowledge is everything when dealing with the gas companies.

Please share whatever information you might have about this particular matter; thank you !

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3p4ekx80ulfbvPermalink Reply by 3p4ekx80ulfbv on July 14, 2016 at 5:07pm

Agreed G H....I can be more civil

Permalink Reply by G.H. on July 14, 2016 at 5:20pm

Harry, assuming what you said is true... about spending 20k on having your lease crafted and then selling a portion to a firm that audits royalties in order for that process to benefit you... you have made some smart decisions, it seems.  I am assuming your are happy with your royalties after all that... Anyway, those are maybe some decisions that others could stand to learn from.  That is mainly why I am interested in hearing what you have to say.  That, and you often provide interesting counter-arguments, like I mentioned.

Although I would guess you would have to have a decent chunk of land (and money) to make it worth it to spend 20k on having your lease drafted.

Anyway, I really wish everyone on this site the best in dealing with leasing, royalties, etc. regardless of viewpoints.  It is a tough process to get right.

3p4ekx80ulfbvPermalink Reply by 3p4ekx80ulfbv on July 14, 2016 at 5:30pm

Well GH I'd love to tell you how smart I am but good fortune played a roll as well....no royalties yet....not even in a unit yet but got my first lease bonus in April of 2011.....then I inherited some additional acreage and was the benefactor of a stepped up cost basis.....when I sold those mineral rights it was for less than the stepped up value at the time of my inheritance so I  payed ZERO CAPITAL GAINS.....then chk renewed us again in April. ...we're in a good spot....so 2 lease bonuses and a sale on the rights I inherited have yielded right at 1.75 mil

Permalink Reply by bo boboski on July 14, 2016 at 11:12pm

This thread is about Gulfport leases, We really don't want to hear stories /criticism,bashing,name calling from someone who has been given everything without having to work for/earn it. Possible an only child/bully/spoiled brat who has inherited everything and now cant understand people who have worked all their lives for what little they have accumulated,only to see someone like O&G co.s come along and steal some of it away, and being upset about it. Most of us have had to work hard for what we have, and may not want to sit back and watch someone steal part of it! I'm sure ones who have been given what they have now would look at life,and other people in a whole different way. But we don't want to hear it.

3p4ekx80ulfbvPermalink Reply by 3p4ekx80ulfbv on July 15, 2016 at 12:20am

Are you able to read and comprehend?......and people wonder why I say the things I do.....have a pleasant day stosh

Permalink Reply by M.A.B. on July 15, 2016 at 12:27am

Harry...I'm truly sorry for your loss

3p4ekx80ulfbvPermalink Reply by 3p4ekx80ulfbv on July 15, 2016 at 12:28am

Thank you....she was a rock star....beloved by everyone who knew her

3p4ekx80ulfbvPermalink Reply by 3p4ekx80ulfbv on July 15, 2016 at 12:59am

Hey Bo....are you that Polish terrorist I heard about that tried to blow up a truck and wound up burning his lips on the tailpipe?...lol

Permalink Reply by bo boboski on July 15, 2016 at 8:18am

Harry; I'm starting to think that maybe you ARE smarter than the average bear! you have inherited a couple hundred acres of mineral rights. leased twice, but undrilled with Chesacheat. You are happy at this point with the $ you have received from them,but may be worried that when you do start getting royalties, you will be shortchanged like most folks leased with them, so you get on this site a defend them,and praise them, thinking that they have people watching this site,and try to make sure they cheat the ones who bash them, and treat fairly the ones who defend them. You also sold a % of your rights to a Houston investment firm ,who will audit,and make sure that the royalties are up to snuff on your minerals. Good Luck!

3p4ekx80ulfbvPermalink Reply by 3p4ekx80ulfbv on July 15, 2016 at 8:46am

Bo...I didn't inherit all of my mineral rights....only half and those are the ones I sold....if I sold my original mineral rights I would have a capital gains tax on the sale....I've paid enough income tax....and how would chk know who any of us really are on this site?...no one from chk cares what we are doing on this site....I worked for many many years and nothing was ever given to me....in fact over a 30 year period I paid one family member over 250k in either interest or rent payments.....and what do people usually do if they own anything and die?....they leave it to family....bet there are a TON of folks here who had the family farm and everything that went with it bequeathed to them

Permalink Reply by Sage59 on July 15, 2016 at 5:09pm

Harry. This is from the Mayo Clinic. 

"Narcissistic personality disorder is one of several types of personality disorders. Personality disorders are conditions in which people have traits that cause them to feel and behave in socially distressing ways --------"

In real people talk, I think that means Narcissists act and communicate poorly. Name calling, etc.

Back to Mayo definitions----

"If you have narcissistic personality disorder, you may come across as conceited, boastful or pretentious. You often monopolize conversations. You may belittle or look down on people you perceive as inferior." (Remind you of anyone Harry?)

"You may feel a sense of entitlement — and when you don't receive special treatment, you may become impatient or angry. You may insist on having "the best" of everything — for instance, the best car, athletic club or medical care." (Or deal with Chesapeake)

Back to Mayo definitions----

"At the same time, you have trouble handling anything that may be perceived as criticism. You may have secret feelings of insecurity, shame, vulnerability and humiliation. To feel better, you may react with rage or contempt and try to belittle the other person to make yourself appear superior." (You haven"t belittled anyone lately, have you Harry?)

Harry, relax, have a beer or two. Watch a sunset or a sunrise. If it is true about your wife, you've earned the right to be cynical, but think --  You are not the only person to have suffered terrible loss in life. We just may not choose to use personal loss to sway an argument.

The honest exchange of ideas and information is good. I think that is what America is all about. I have a feeling thst Chesapeake hates and fears an informed clientel, but that is just my opinion. You may think that Ron Hale (not Hail Storm Hale) is wrong in his criticism of  Chesapeake. I'm glad that someone like him is watching and reporting. I understand that your personal numbers are good. Prove his numbers wrong. 

Permalink Reply by Sage59 on July 15, 2016 at 5:34pm

I apologize to the folks on this thread that were having a good discussion about Gulfport. I hope Harry un-hijacks your discussion. Start a separate discussion of your own Harry, so it can be properly dealt with or ignored.

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