Comment

Comment by Nate on October 13, 2010 at 9:07am

How many acres? Sounds like you bought a parcel of what used to be a large farm/parcel and your percentage of the land owner royalty is very low.

Comment by Rod Dietrich on October 13, 2010 at 8:18am

I think we receive approx $23 a year, and it cost me more then that for the additional forms at tax time. The last check was a week or so again, and noticed the company name changed again. We are out of town this week so I don't have the info in front of me. thanks Rod

Comment by Nate on October 12, 2010 at 7:57pm

No worries Rod, and I would agree that it is the job of the person/company wanting to lease anyone to do their own due diligence. However, from the information you are saying here I'm pretty sure you are leased by Red Hill. Do you receive royalty money from them anytime throughout the year?

Comment by Rod Dietrich on October 11, 2010 at 2:12pm

Al, My responce was not intended to shoot any one, I was really hoping he worked for RED HILL and we could talk off line on a cell. When you try to get ahold of them it is like trying to talk to the president, seem never to get an answer. Also in talking to many people about this, it seems like everyone has a different answer, and the only thing you can get from a lawyer is $300.00 per hour just to start. So i am very sorry if i offended anyone, i am just like any one else here just trying to find answers. The latest i have been told is that it is the potential leasee's responsibilty to see if the ground is onen for them, not the landowners.......Have a great day Rod

Comment by Al Cramblett on October 10, 2010 at 11:56am

Rod,

I am in the process of educating myself and just returned from a four-day convention of the National Association of Royalty Owners. As time permits, I will be adding new information to this board. However, I’d like to immediately confirm that the comments made by Nathan most likely are correct. Common sense does not rule -- contract law and title does. The fact that the lease was not recorded does not void the lease. The only way to get the legal answer to your question is to have a title opinion rendered. This is expensive. Again, I believe Nathan's comments are correct, and one should not attempt to shoot the messenger of bad news.

Al

Comment by Nate on October 6, 2010 at 8:41pm

I don't but I know how the industry works

Comment by Rod Dietrich on October 6, 2010 at 8:36pm

I take it you work for Red Hill, if so can we talk off line

Comment by Nate on October 6, 2010 at 5:39pm

With that logic a 30 year old run down house that needs a roof and updating and the owners don't have the funds to do so, should forfeit their ownership to someone who has the equity. I think I'd like to be the lawyer on the house owner's side.

FYI Red Hill still does drill wells and they drill wells deeper than both formations listed above. And financing is something that company is not lacking.

Comment by Rod Dietrich on October 6, 2010 at 5:31pm

Common sense would tell me that a 30 year old lease, by a company that doesn't drill any more, and even when they did, had not the funding or equipment to drill any where near the Marcellus or Utica shale formations should be something that could be challenged. Your thoughts.......

Comment by Nate on October 6, 2010 at 5:19pm

That you have nothing to lease anyone most likely. Red Hill has the rights to all horizons under your property. By having a producing well that is paying royalties the lease you found is kept valid.

• ‹ Previous
• 1
• …
• 153
• 154
• 155
• 156
• Next ›
• Page