We were notified we are in a pooled unit and have been receiving calls from multiple companies. Wondering if anyone has dealt with frio resources? Any info would be appreciated. Thank you

Views: 439

Reply to This

Replies to This Discussion

Laura, which O & G company pooled you? Is it Frio? Did they give you a chance to negotiate a lease? I have not heard of them however my research shows that they have been drilling wells in Texas so I don't think they are a flipper. Maybe with all of the activity in Ohio they have decided to jump in

Thank you for your reply. Eap pooled us. Does that make a difference as to who you should lease to?thank you

Laura, We are with EAP which has a unit that has acreage in both Tuscarawas and Harrison. It is the Sproul Unit. Did EAP offer you a lease before pooling? If they did and you did not sign then it goes to Unitization Court to get approved and you will have no leverage at that point and have to take the minimum royalty set by the county/state??? But you can negotiate a lease up and through the Unitization Court process. Once EAP wanted to lease us SO MANY companies came out of the woodwork to buy our rights or lease us. Some were legitimate companies and some Flippers. But anyone else offering you money know that they will make money because you will be drilled. I have heard of stories where some fly by night companies never hold up their end of the bargain but I'm sure many do. I guess go for the best deal but if EAP is offering something reasonable stay with the main driller.

How many acres do you have? Where are you in the process of Unitization? Just forming? Did you get a court notice of Unitization Hearing?

We have a little over 15 acres. We got notice from dept of natural resources about the pooling and a hearing is scheduled for March 27th. It said Eap applied for a permit. Have spoken Encino but they are offering the lowest Amt and won’t budge.
Thank you for the helpful information. I really appreciate it 😊

So now I understand you want to make sure Frio is a legit company to lease with. Hopefully someone on this Forum has dealt with them and can give you info. But either way I hope you are having an attorney review any lease you sign because as you may have read on this forum that lease language may seem good for  you but in reality companies can twist the wording in a COST FREE GROSS lease and it turns out they can still take deductions from your royalties.

I used an Attorney who is for Royalty Owners only. He is very knowledgeable and easy to talk with. He has a reasonable price and Special Pricing if YOU are okay with doing the negotiating with the company. He will guide you by looking at the lease and giving you his recommendations. I concentrated on the most important parts of my lease and was able to negotiate with EAP in the language and some additions that I wanted.

He gives a free 30 min consultation and you can ask him if he has heard of FRIO. He has worked on a lot of EAP leases.

His name is Attorney Cody Smith at Emens, Wolper, Jacobs and Jasin 614-414-0888

If you have questions you would rather discuss privately you can private message me through this website. I think just click on my name and "Friend me" or let me know and I can send you a message first. Good Luck

I went to your profile and didn’t see a spot to friend request. You can send me a message that would be great. You have been so very helpful! 😊 I am working so not able to respond quickly. Thank you

Laura, I accepted your Friends Request and sent you a private message. Did you get it?


© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service