Replies to This Discussion

Permalink Reply by Finnbear on December 19, 2011 at 10:37pm

938 XTO Energy leases were filed with Belmont County Recorder between 10/12 and 11/23. It looks like you should contact XTO or the attorney who put the group together (Sustersic?) ASAP to find out why they have not paid. I wouldn't wait.

Permalink Reply by Elsie Fox on December 20, 2011 at 1:18am

Yeah, that's my plan.  My lease was recorded on 10/12. 

 

And my old truck's check engine light is on.

 

Happy Whatever-Your-Chosen-Holiday.

 

Ms Scrooge 

 

For all you rich or soon to be rich, please adopt one of my rescue kitties and give the little furball The Good Life:  http://photobucket.com/adopt-a-rescue-kitty

Permalink Reply by tony blankenship on December 21, 2011 at 2:42am

i thought the xto lease sign at end of november in st. clairsville was 120 days not 90

Permalink Reply by Finnbear on December 21, 2011 at 9:28am

Was it calendar days or business days?

Permalink Reply by Lee Kinney on December 21, 2011 at 9:44am

Wording does not say business but is that a common sense thing I don't know.

The Order of Payment will be paid within 90 days of the execution of the lease pending

title verification and approval by Lessee.

 

I personally assume those that had their title recorded soon after signing means nothing was found searching deed histories(title verification). Many are not even recorded yet? Wondering if that means they found some old lease they may have to remove, and if successful the word pending then allows the 90 days to start from that date verification of title is made and the lease then shows up as recorded on such a date?

Permalink Reply by tony blankenship on December 21, 2011 at 11:20am

sorry ment at the end of september not november

Permalink Reply by Lee Kinney on December 21, 2011 at 6:56pm

Tony if you were in the last signing they had the one I was in at Hilltop school it was 9/29/11.

There is no lease recorded on my deed but I do see many others that were there the same day and I have not heard a word from XTO. I am at the point if it expires and is not a pain to get out of it after the 90 days, I think I could get with the S&G group and probably get a better deal in the long run anyway, so I am not pushing it.

Permalink Reply by tony blankenship on December 21, 2011 at 9:42pm

well i sign with xto in sept, and found lease on record done on nov17th, i still haven't received a check but i fairly sure it was for 120days not typical 90, i signed on the 27th of sept at holiday inn in st. clairsville. oh and iv had hess come around saying my lease wasnt on record but i found it on the belmont county web site they just updated it recently, the lease didnt show a week and a half ago but looked and it was on there today.

Permalink Reply by Elsie Fox on December 22, 2011 at 12:06am

I signed on 9/16 at the Mariott in Wheeling.  The order of payment was dated for 12/16.  Well, half on 12/16 and the other half on 1/16/12.  So definitely 90 days, not business days.  My lease was recorded on 10/12.  Two of my neighbors signed at that second wave in late September; one had her lease recorded in early November and the other hasn't had her lease recorded yet (but the courthouse has her records screwed up). 

 

I was told that there is no problem other than the sheer number of leases involved and the time it takes to process them all.  XTO has added many more leases than just those landowner group signings by buying old leases, too.  They bought one neighbor's 40-acre lease and another neighbor's 145 acres, plus hundreds more leases.  And they've added some large municipal acreage since then.  That's all I know, except that I need to be "patient".  Guess that's better than being a patient, huh? 

 

Don't forget those kitties!!!!  http://photobucket.com/adopt-a-rescue-kitty .  Time's a-wastin'.  If When I get my money, I may just build a big fence and start a cat shelter...... 

 

     

Permalink Reply by 0i7okn54zwbdo on December 23, 2011 at 8:55am

So they recorded your lease but didn't pay you? That's questionable. If they didn't pay then it's an unlessed lease. If they didn't pay then they are obligated to now release you. Check the wording of your lease but this sounds like a situation that a lawyer needs to look at.

Permalink Reply by Elsie Fox on December 23, 2011 at 4:46pm

Well, I look at it this way......It's impossible for the recording and the payment to take place at the same time.  If one has to come first, I'm sure an O&G company couldn't be convinced to pay first.  (I'll bet it would be more difficult for them to get their money back than it would be for the landowner to break a lease for nonpayment.)  Technically, yes, I think I should be paid from the moment they have "access" to my O&G rights, but we know it ain't gonna happen.

 

Fortunately, I can be more forgiving today, because the completed lease arrived along with a letter stating that payment would be sent as soon as processed.

 

One very important note, though.  I must have been mistaken when I said the order of payment said 12/16.  I know I was told "90 days" (and the lease uses the same words).  No mention of the word "business".  And I know we talked about payments being 12/16 and 1/16.  But the Order of Payment copies that arrived with the lease state "90 business days" in the teeny print!  I'm one who normally reads the fine print first and I'm amazed I missed that.  Must be a sign of senility.  Sorry if I scared any other XTO signers........   

Permalink Reply by SA Frank on December 24, 2011 at 12:15am

Elsie,

 

just a reply to your 'important note'.  Ambiguity in the lease seems to always favor those with high dollar lawyers.  Something to keep in mind as we come close to signing deals. 

• ‹ Previous
• 1
• 2
• Next ›
• Page