Replies to This Discussion

Permalink Reply by Denise R. Brain on November 4, 2012 at 2:12pm

I know of two people in west salem township who have not been paid as of yet? Can they expect to get their checks soon or some kind of up date on their checks?

Permalink Reply by John on November 11, 2012 at 12:06am

The saga continues! What does that mean "they have to Dec 15". What is anybody going to do if they don't? That will be 6 months these 90 day leases have drug out. I live in Hemphield twp and got a letter from CX thur saying checks would be issued on Dec 14. Im wondering if Halcon is still narrowing down the acerage they want even more? Shell has been knocking on doors in Hemphield and Otter creek.

Permalink Reply by Frank W. McCafferty on November 13, 2012 at 4:46am

They are probably going to take drilling units and leave the rest hanging! They did that in Venango to a friend of mine!

Permalink Reply by petej on December 5, 2012 at 10:48am

Elnathan,

How did you make out?

Permalink Reply by Elnathan Cory on December 6, 2012 at 5:54am

I am with Hilcorp. I expect results this time. I have freinds and neighbors who are with the Halcon promise. None of them have been paid to date. Been checking with the county and Halcon has paid very few in the whole county.

Permalink Reply by JohnL on December 14, 2012 at 6:51am

The Halcon saga continues.  Just received an email that the bonus payments due today for all of Sandy Lake township and Stoneboro have been put on hold pending review by Halcon due to a NGF storage facility in that area.

 

Permalink Reply by Samuel J. Orr on December 14, 2012 at 8:53am

What does an NGF storage facility have to do with anything. What am I missing?

Permalink Reply by JohnL on December 14, 2012 at 9:30am

Good question.

I'm not aware of any storage field under our property, but apparently Halcon Resources has identified "title defects" that concern a National Fuel natural gas storage field that affects "all" members in Sandy Lake Township and Stoneboro.  M&P law firm is working to resolve these "defects".  To me, a title defect means that the deed is somehow encumbered by National Fuel as in a lease, or is it possible that they can't drill under a storage field? I'm waiting for a call back from M&P with a good explanation, if there is one. .I'm not sure how it could affect the entire township but that is their reason for not paying.  It's interesing that their announcement comes on the same day that Halcon was to send out checks to landowners in Sandy Lake township.  The timing appears suspicious to me. Tell me the "title defects" were just discoevred and were not known 3-4 weeks ago when they sent a letter informing us to expect a check to be mailed on December 14th. Apparently they think we're all that stupid. Looks like the old stick and carrot trick to me.

 

john

Permalink Reply by Samuel J. Orr on December 14, 2012 at 10:11am

The O&G leasing business seems to be a nasty one. I understand company's trying to lease land as cheaply as possible. But I do not understand companies making specific promises and then breaking them Halcon seems to be a particularly rotten apple when it comes to that. Additionally, if Halcon postpones payment until 2013, a landowner with income over $200,000, or over $250,000 if married is  is going to be raped and pillaged when he or she files her federal tax return for tax year 2013. Check with your tax adviser for how bad it really is. Please continue to post any new information as it develops. I hope you get paid, and get paid this year.

Permalink Reply by JohnL on December 14, 2012 at 11:29am

Sam,

Right now, all bets are off on Halcon.  Any hope of getting a check this year are gone.. No call back from M&P today.  We'll see what next week brings. I'm sure those guys are getting an ear full and deservedly so.

We won't really know how bad the taxes will be in 2013 until our elected officials work it out, but either way you can be guaranteed that they will be higher than they are today.  Just plan on the government getting at least half of the bonus check. 

Welcome to the much talked about 2% (you know those rich people who can afford to pay more!).

 

John

Permalink Reply by Brett Allen Morgan on December 14, 2012 at 11:50am

Good luck on M&P getting Backwith you!! It took my weeks.I kept getting Jeremy's Assitant Alex...who was very polite and helpful but not full of answers or info......finally after many many call I decided to email Jeremy......sent him  along one with lots of Q's....... interesting that he answered the email within hours  but was always "unavailable" for phone calls. His email response had to chew up at least 30 minutes of his time when a 5 minute call would have done the same. To his credit he did answer all my Q's and provide me with all the docs I needed. We are now waiting on our resubmission results after our title was mistakenly declared defective....... they said Halcon claims it could be several weeks. A few neighbors around me have been paid and others are waiting on the Dec 14 mailing. I am sure when we do get our check it will be next year and we have already begun to look at the tax issue...good luck every one...BTW we are in Hadley

Permalink Reply by Jim Litwinowicz on December 14, 2012 at 12:10pm

I know a couple of landowners that got letters two weeks about this gas storage issue.  The landowners insist there is no storage lease on their property. M & P is working on it.Halcon could be using this as an excuse to get out of paying. Apparently, when they lost the bid on the Vista leases, they decided to go elsewhere. But they have contracts they should honor.

I see their stock has dropped a little. Most of the drop is probably due to the drop in crude and nat gas. Doubt if most investors even know about these issues. And I wonder if they would even care as Halcon has holdings across the country.

I will say that when you drive by a site they are working on you see a big sign with their logo....a bird of prey. Apropos that their company logo is a predator.

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