Rice signing bonus received

Started negotiating with Rice in January on a gas lease. Received  bounus check today as stated in the lease agreement. Rice was a fair company to deal with compared to others  leasing in our area. Can't share lease information because of confidentiality clause but if you have other question I would be glad to answer them.

To protect yourself before you sign a lease I recommend you first learn about the whole gas leasing process and, A MUST,  have an experience gas attorney on your side.

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Permalink Reply by catt on June 17, 2014 at 9:25pm

Antero is a good company.....be specific about what you want in a lease. As many people have stated .....seek good council. One that is experienced in O&G.

Permalink Reply by Terrance Livingston on June 18, 2014 at 6:06am

That is my intention, Thanks. 

Permalink Reply by E. Progar on June 18, 2014 at 9:00am

Are you working with an attorney? I used Smith Butz  which are  located in Southpoint, Canonsburg

Permalink Reply by Gunner Ostergard on June 18, 2014 at 11:30am

When comparing Antero to Rice leases,  make sure you get a pugh clause and a no deductions clause.  Also go to the DEP and compare the production of the Rice wells to other companies wells,  the Rice wells simply produce more gas,  as I understand it,  it is because they are able to perforate the shale better to release more gas.

 

Permalink Reply by Terrance Livingston on June 18, 2014 at 5:01pm

Smith Butz is the law firm I contacted previously and that is whom I will be using once the leasing and negotiation process starts. Thanks Gunner for the info and I definitely will follow your  recommendations! Also, has anyone on this forum only leased the Marcellus seam while retaining the others.

Permalink Reply by E. Progar on June 18, 2014 at 8:20pm

Your attorney should be able to help you with that.

Permalink Reply by Terrance Livingston on June 18, 2014 at 9:25pm

When should I get the attorney directly involved?  

Permalink Reply by E. Progar on June 18, 2014 at 9:56pm

That is a good question.

I see you are using Smith Butz as your legal counsel. They are very good at educating you on the leasing process as they review your lease. You will understand each lease item and know what addendum changes to make to meet your requirements. I would get the attorney involved once you receive an offer from the gas company.

Permalink Reply by rmc on June 19, 2014 at 7:08am
Did anyone not receive there bonus payment from Rice?
Permalink Reply by Bill Barnaby on June 19, 2014 at 8:29am

Note: Not 100% sure if this is true, so wait for others to chime in. I heard it through the grapevine.

I have members of the S&G land group signed and MANY of them were paid, but they wanted rice to sign all of them or no deal. So Rice paid the people they wanted (the majority) and the others are still waiting.

Permalink Reply by Bill Barnaby on June 19, 2014 at 9:05am

I heard* not have

Permalink Reply by rmc on June 19, 2014 at 10:01am
I heard that the group that signed with them in Greene County did not all get paid most did but not everyone.
My neighbor told me that they had to get there attorney to file for a release at the court house for nonpayment but my other neighbor told me he received his bonus check right on time go figure hu?

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