Mark Leeds / XTO lease language......

This landman came in and signed some landowners in my area.  I've read his lease and some things just don't sound right.   The following bothers me the most:

Lessor's Covenants.  Lessor hereby covenants that he is seized of an indefeasible fee simple  estate in the land herein before described, together with all the underlying  oil and gas, and that he will forever warrant and defend the leasehold estate hereby demised unto the lessee against the lawful claims and demands of all persons whomsoever, and that the lessee shall have the exclusive, full, free and quiet possession of said described premises for the purposes and during the term herein set forth.  Lessor further agrees that the lessee at its option may pay and discharge, when defaulted, any taxes, mortgages, or other liens existing, levied or assessedon or againstthe above described lands, and in the  discharge of any such mortgage, tax or other lien, any royalty or rentals accruing hereunder.

 

This sounds like much more than a Special Warranty of Title.  Can these gas companies take more than just the oil and gas with a Lease?  What are your thoughts on the above paragaraph?  What is the landowner ACTUALLY signing away?

 

1. Reserve gas = 200,000 cubic feet per year.  Most are 350k and/or a monetary value.

2. No mention of the word "Gross Proceeds" and when asked, he stated XTO wouldn't allow it.

3. $20,000 total for a pad site, includes 7 acres and can take additional acreage for $3k/acre, no limit.

4. Nothing for Workers Comp or Liability Insurance, Umbrella Insurance or Business Auto or Liability Insurance.

5. Nothing stating No Pits, No Compressor or Processing, No Hazardous Materials, No Disposal or Injection Wells.

6.  Conveys all rights to drill and operate for oil and gas in ANY underlying strata....

 

Am I missing something?  The landowners that signed this lease have been involved for almost a year and signed this lease without even having their lawyer review it, and they own near 300 acres!

 

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Replies to This Discussion

Permalink Reply by HMMMM! on December 14, 2011 at 6:16pm

Tom, if you look at this Utica shale map, you will see what i posted was correct, only about 10% of Stark has Utica under it.....

http://www.theinfomine.com/wp-content/uploads/2011/08/utica-shale-z...

http://www.mapwatch.com/multi-maps/full/ohio-county-map.gif

The second link is a Ohio county map so you can see where Stark is, as you can see it is a small sliver in the eastern part of the state!!!!!!! So even though you paste what i said you tried to say i said there was no leasing in Stark, which i clearly never said!!!!! So again you put words in my mouth and said i was lieing when i never said it!!!!!!!! LET'S GO OVER THIS AGAIN, ONLY THIS TIME SLOW FOR YOU......

 

Reply by Tom 3 hours ago

Hey HMMMM here is more proof your full of crap and don't have a clue or are a liar which is it? no leasing in Stark county HMMMMM!

only 10% of Stark has Utica under it? HMMMMMMMMM

See I can cut & paste Too

Permalink Reply by HMMMM! 6 hours ago

I was mistaken on Lensman location, but again after looking at Utica shale map, only about 10% of Stark co. has Utica under it as compared to Belmont which is covered fully!!!!!!!!!!!

ABOVE IS WHAT YOU PASTED AND SAID THAT I SAID THERE WAS NO LEASING IN STARK

READ WHAT YOU PASTE DUM-DUM I DIDN'T SAY THAT SO HOW COULD I BE LIEING?????????????  I agree you can copy and paste too, but your supposed to do it when something someone said changes or is wrong, not when you want to make stuff up!!!!!!!!!!!! I've said this multiple times before and this  will hopefully sink in..........Give it up, you are no good at truthful debateing, i'm feeling guilty like i'm picking on you!!!!!!!!YOU ARE WAY TO EASY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!HMMMMMMMMMMMMMMM!!!!!!!!!!!!!!!!!!!!!

 

Permalink Reply by HMMMM! on December 15, 2011 at 3:32am

Look at your map and look at mine, clearly you made you own map and posted it on here, IT IS A JPEG FILE   map looks like someone put crayon around it, Sid are you kidding me, Is it so hard for you to be wrong, what i gave you and everyonE on here was a link  to a map, not something i borrowed my daughters crayons to make!!!!!!!!!!!!!!!!!!!!! And while you are waiting for my lease, please tell us why you would praise the great deal Lensman got you, when you have said multiple times they are still in negotiations???????????? Sid this last attemp to fool people is just so blatant with your do-it yourself map it is sad!!!!!!!!!!!!!! JUST LET IT GO, YOU LOOK LIKE AN IDOT!!!!!!!!!!!!!!!!!!!!!! HMMMMMMMMMMMMMM!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Permalink Reply by time will tell on December 15, 2011 at 3:39am

HMMM or anyone how do you do a perma-link on this site ? Thanks in advance for the help .

Permalink Reply by HMMMM! on December 15, 2011 at 3:42am

I just copy the web address from another window and paste on here

Permalink Reply by time will tell on December 15, 2011 at 3:22pm

Thanks HMMMM

Permalink Reply by HMMMM! on December 15, 2011 at 3:49am

So basically you just reposted thier advertisement, that proves alot great job!!!!!!!!! You must work in thier marketting department, the way you plug them, now you are putting them on the same level as Warren Buffett, Warren Buffett really, Earlier i told you to wipe the Lensman poo from your nose, now you need to wipe the poo from your shoulders, because you got your whole head up there!!!!!!!!!HMMMMMMMMMMMMMMM!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Permalink Reply by HMMMM! on December 15, 2011 at 4:24am

I stand corrected, i did not read the oil invoved there, i was just looking at gas. I WAS WRONG!

Permalink Reply by HMMMM! on December 15, 2011 at 4:40am

COBRA, NOW YOU NEED TO READ MY MAP AGAIN, ONLY A TINY SLIVER OF BELMONT IS IN DRY GAS, THE REST IS WET GAS, AND TO THINK EXXON IS ONLY INTERESTED IN OIL IS SILLY!!!!!!!!!!!!!!!!!!!!1

Permalink Reply by HMMMM! on December 15, 2011 at 5:07am

No Cobra i pu no words in your mouth..You clearly stated Belmont is dry gas..........Here let me show you....

 

Reply by cobra 31 minutes ago

hmmmmm Another reason you signing with xto looks like a bonehead move, Exxon is an OIL company, they just wanted to get a few blocks put together for exploratory purpose! Belmont is in the Dry gas area, different companies want the dry gas and they are the companies going to do the most drilling in belmont.

 

SEE............

Permalink Reply by psychosid on December 15, 2011 at 3:47pm

Here you go Tom.  I knew I've seen that picture before. 

http://www.oilshalegas.com/uticashale.html

 

HMMMM!:  Do you like to use the repeated ending punctuation marks or what?  I've noticed that someone else really liked to use those before they quit posting on this board.  If nothing else, this has been great entertainment.  I think we should all meet up someplace, drink a few beverages, and beat the **** out of each other.

Permalink Reply by HMMMM! on December 15, 2011 at 4:58pm

I'm way to old for that stuff!!!!!!!!!

Permalink Reply by HMMMM! on December 15, 2011 at 5:56am

Cobra please show me in your post where you said predominantly.......Are you kidding i copied and pasted for you and you still said you said something different.........Say something like you misspoke or do like i did and admit you were wrong or that you made a mistake!!!!!!!!! It's ok to make mistakes, we are not perfect!!!!!!!!! My venom is gone, my anger has been released and i have learned a few things on here........I am still quite happy to be leased with XTO and i hope you are all happy with the deals you signed or will sign.........Merry Christmas to all!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!HMMMMMMMMMMM!!!!!!!!!!!!!!

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