Received a phone call from a Chesapeake Rep yesterday concerning our lease. We have a unitization clause that only allows us to be in a drilling with the max size of 640 acres. Chesapeake would like for us to ratify our lease to allow the maximum size to be 1280 acres. Any input on the pro's and con's of allowing the ratication? Any info would be helpful, thanks.
As has been reiterated before, having a competent oil and gas attorney to look over any documents regarding your land is the 1st step. It wouldn't even hurt to go the extra mile and get a 2nd opinion from another lawyer.
Every word is significant in these leases, agreements, ratifications, etc.... The words, shall, or, and, all.......have meaning. You also, need to read it and try to analyze the meaning of every sentence. Most of us are too trustworthy, even when it comes to hiring a lawyer. People say, "Well I din't have time!", "I had to work, and that is what the neighbor's did or said". It is your land and ultimately your decision. I don't trust anyone, but myself and my spouse when it comes to our land, future and what will be handed down to our children. Don't trust anything these companies, representatives, landsman ("even if they are local residents"), tell you. They are all out to make the "almighty dollar". I have not seen any amendment ratifications recently that were advantageous for the landowner. Check to see if these entities are registered with the Secretary of State or if the entities of these big corporations have their POA's registered in the Counties where they are operating. Are they the actual successor lessees, or are they just stating that on these documents. Do the research. We are lucky to have landaccess.com at our fingertips, as most counties actually have to fight the mobs of landsman at the courthouse to look up the records. Go on there and look up who may have been granted your leases.
Another comapny may have been assigned your lease and you don't even know it. These companies are granting leases left and right.
DO YOUR HOMEWORK! THIS IS YOUR LIFE AND YOUR PROPERTY! TAKE THE TIME TO DO THE RESEARCH. You cannot go back and change it once its done. Most Carroll County residents are land rich and money poor. With this oil & gas boom we may not even be land rich in the future. We were naive at the beginning, just like most other states, but get informed. At least about your own property and documents.
have never heard of a gas co. doing any thing for the land owner except screwing them any way they can. stick by the orig. contract if you can. you are loosing money in a 1280 acre unit you % of the of pie gets smaller. only good thing I see is the well may last longer kos you are drawing from a bigger unit so by rights it will take longer to get all the gas. But remember they are not your friends so beware of HBP. If they presist make the gas co. make it worth your while more % on royalties to off set the lower % of the pie that you will get. have in writing the number of wells per 1280 acres in a givin time frame. If they are saving money on this with more acres put some in our pockets.
wheres the elwood unit plat,why is it so duifficult to get?kolhler one is out a month after
we know that,wheres the plat survey
JUST LIKE I EXCEPECTED ,HARDLY ANY ACXRES IN,BUT CHESAPEKE SAID THERE WERE LOTS
!!!BOY THEY KNOW HOW TO TO F##%K YA,LIES LIES ,I WONT BE GETTING SHAFTED AGAIN OR SIGNING ANY MODS,THATS FOR SURE,NO ONE IN THERE RIGHT MIND SHOUDL SIGN A 640 1280 MOD,!!!DO THEY LET US AMEND A LEASE?BETTER YET AN ANYONE BY LAW AMEND A LESA NO MATTER WHAT ITS ABOUT,,MAYBE,BUT IT SHOULD GIVE BENEFITS TO BOTH,.WHAT SHIESTERS!!!
Would you be so kind as to show how to get to this information. Been looking for the plats for the Rutledge well, but with no success.
OK I in know way trust these gas Co. but just because you have a lease doesn't guaruntee you will be in any unit at all, so by agreeing to a larger unit size this gives you a better chance of being included in a unit at all. Just something to think about!