Replies to This Discussion

Permalink Reply by Nancy Mosley on September 24, 2014 at 6:11am

I believe some people are getting an "inconvenience fee" and some people are getting modifications of the modification language, and possibly of the original lease. Antero has a lot of landman working in this and some are more helpful than others. Always a good idea to ask a lawyer before signing anything. I see your point about fairness but this is business.

Permalink Reply by Bill Leaseburg on September 30, 2014 at 5:49am

Anyone want to comment on the average "inconvenience fee"?  I was offered $1000

Permalink Reply by Nancy Mosley on September 30, 2014 at 6:00am

Our landman is still telling our lawyer he is offering nothing. We should be glad of a chance to get a new well. Hope others have better stories to tell.

Permalink Reply by Bill Leaseburg on October 21, 2014 at 5:19am

Just an update here. We finally just went ahead and agreed to the $1000 inconvenience fee. Hopefully, something more will come of the pooling.

Permalink Reply by Nancy Mosley on October 21, 2014 at 1:59pm

Bill did your landman say anything about signing a statement about confidentiality? It was mentioned to us in our negotiations. Still negotiating.

Permalink Reply by Bill Leaseburg on October 22, 2014 at 10:55am

No one has ever mentioned that to us. Most people, even our pastor, are tightlipped on the subject. No help at all. Divide and conquer.

Permalink Reply by Daniel Zugell on November 23, 2014 at 2:42pm

My family has received a similar lease modification letter from American Energy - Marcellus, LLC referencing Utica specifically and pooling.  They offered $200.  We didn't know anything about the mineral rights let alone any existing lease.  There are probably funds in escrow somewhere as well.  I asked the landman to provide a copy of the existing lease and whether we had anything in escrow.  They will not provide a copy of the current lease only a copy of the original lease that was signed in 1894 that references the land.  We are assuming that this is not the current active lease.  We would also like to see the title search and access any funds in escrow.  Any thoughts from anybody?

Dan

Permalink Reply by Nancy Mosley on November 23, 2014 at 4:11pm

That 1894 lease could still be valid. I have one from 1890 (not the property referenced above by me).

You could ask to see what they have on the title, and the history of the lease, what wells are there (ask for API numbers for the wells), ask who has been receiving the royalty (your share, which ancestor). If there isn't current royalty then probably the lease isn't valid and you could say that to them. Before you sign, get as much info from them as you can. After you sign, they might not be as friendly. And, always a good idea to have an attorney look at something you plan to sign.