need reveiws on Amarado oil co. leasing in Guernsey co. The good & the bad. No rumors please. just comments from those who have dealt with them. Are they gonna be drilling here. or just flipping? Do they pay on time? etc. etc.
"Non drilling partner" of EQT.
To me , it means..they flipped the leases, and kept a royalty.
There was a big falling out between Amarado,
And the Mc Gonigles, who first showed up representing them in some capacity.
Amarado leased land from two landowners next to me...
.....for $500(five hundred ) an acre...
I told my neighbors to form a group with me, and lease together,
And that the price would go up a lot more...but they didn't listen.
So, later, Amarado flipped those to EQT.
I talked to their guy on the phone....he didn't like the word "flipped"
He liked to say Amarado was the "non drilling partner"..
Which suggests, to me anywaythey retained a royalty after giving the landowner 12.5%.
But perhaps I am mistaken about their arrangement.......non drilling partner...hmmmm..
Larry Gardner, before his health problems,
Mentioned better not leasing at all, than lease to Amarado.
Although, Imdid consider working for them at one time,
Because the pay was good.....several hundred a day, plus expenses etc to start.
But I had a funny feeling about their pressure and scare tactics,
At least under Mc Gonigle...and passed that job to a friend, Jeff.
He later quit, saying he felt bad taking advantage of friends and neighbors
In what seemed like an unfair way.....his words.
I suppose, just check the lease really really well,
Take the bonus money, and just maybe...five years will,expire before they drill anyway
...then you could collect bonus money again.
That's what I would say, about Amarado....just make sure you don't get ripped off.
Why not just lease directly to EQT?
We leased with them too. We were handed a check on the spot. That was a plus.
On the down side we were told that 5000$ and 20% was not going to happen and if we left there that day without leasing that they would just go around our land.
Our lease is recorded but contains several errors that could render it invalid.
I was contacted by a rude lady from Texas that told me the McGonnigles from Amerato had been fired and she was going to rewrite our lease. When I told her my family's attorney would handle it. She hung up on me.
We got 3200 and 17% not bad but could of done better.
Yeah,they tried the scare tactic on me too.
...,we will drain your property anyway, without you leasing...
.....we will jut go around you....
...lease now, or we walk.....it doesn't get any better than $100/acre!
I said no
Next week...,,Lease now, or we walk...it doesn't get better than$250/acre!
Two weeks later..,"it doesn't get any better than $500/acre....
Etc etc....up to $5000 and 20%.
I suppose we should have leased then,but I just did not trust them.
What makes this site so great? Well, I think it's the fact that, quite frankly, we all have a lot at stake in this thing they call shale. But beyond that, this site is made up of individuals who have worked hard for that little yard we call home. Or, that farm on which blood, sweat and tears have fallen.[ Read More ]