Will adept/halcon honor their leases

I am very nervous that halcon will not honor my lease and others in venango co.  Halcon used adept energy as a leasing agent in venango co.   Unfortunately I signed a non-binding lease.  I did not like it but I felt I did not have any other options.  I feel that Halcon is playing dirty.  They go to differnt counties say they want all the leases they can sign and they after 90 or 120 banking days, they say they or narrowing their scope of operations and will only honor certain leases in the county they signed.  They just sent out letters in mercer stating as much.  I fear venango is next.  If you think of it, it is a smart ploy, though very very dirty.  If property owners in venango or mercer knew that they only want certain properties thoughs owners would hold out for more money.  However, If you say you are signing everyone for a certain time and if you don't sign then will go down the road to your neighbor and you will not get anything people will sign not knowing that their property is the one they wanted all along.  Well I have learn my lesson.  I will only sign a binding contract that only lets the company out if your rights are not there.  Because everything else is just oil companies trying to pull a fast one.  Has anyone heard anything about venango and halcon????   

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Replies to This Discussion

Permalink Reply by Jason Bablak on September 12, 2012 at 2:04pm

I signed a lease for property in Cranberry township in June.  Had a lot of good interaction throughout the negotiation, and for a few weeks afterwords.  However, I have tried to followup several times more recently and have had no response.  I am getting concerned as well.  Would love to hear if anyone has actually been paid for a lease in Venango by Adept.

Permalink Reply by Samuel J. Orr on September 12, 2012 at 2:17pm

Halcon seems to have stopped leasing in Venango County for the present. They supposedly are drilling a well on Valley Road somewhat rest of Polk on property owned by Gage Allam in French Creek Twp. Their conduct is highly suspicious. They are backing out of paying about 1/2 of the 42,000 acres they leased in Mercer County. Floyd Wilson CEO said in August 3 article that he intended to build up company's assets and sell it to a larger player in the next 3 years. The non-funding of the Mercer County leases seems at odds with his rosy statements about Halcon's operations and intentions as expressed at a conferece on August 25 and at a second conference on Sept 5. I think you should review several of the threads on the Mercer County site to further enlighten you. I own property in French Creek Twp that is unleased. I would be interested in how long you have been with Halcon, so as to know when your money is due. I have posted several times on the Mercer County site and you might look for them. Best wishes for you getting paid. (Floyd Wilson stated the Allam well or perhaps it is Allem would be completed by October 15. I live in SC but you might be able to drive by it to see if anything is really going on. Hope this is at least a little bit helpful. Sam Orr 

Permalink Reply by james on September 12, 2012 at 2:27pm

Samuel, Halcon is getting ready to drill on Valley Road just out of Polk, the site is only a few miles from my house. They have not been leasing anything in that area, not even property next to the site, I know of a few neighbors that have been trying to work out a deal with them,  but nothing yet. This is a real site, I drive by it daily to see when the rig will be in there.

Permalink Reply by Lorrene Wagner on September 12, 2012 at 2:30pm

I have 40 acres near dempseytown and 8 in galloway (sugarcreek).  I signed may 3,1 but was told they were backed up and needed 120 days that puts it somewhere in november but alot of others signed in the weeks before me and should be approaching when their money is due.

Permalink Reply by Mark Thompson on September 13, 2012 at 4:24am

These companies and most of (but not all) of their agents are snakes. You can't beleive a word they say...I hope everyone gets paid. I think that when the development actually gets here, and the companies are drilling those who have not signed may be better for having waited.  Those people won't have to deal with law groups or middle men taking a piece of the pie.  Good luck to you and everyone holding a lease, I hope you get paid...

Permalink Reply by Mark Thompson on September 16, 2012 at 1:13pm

Any word on why?

Permalink Reply by Samuel J. Orr on September 18, 2012 at 8:19am

p umpjack: Totally believe you when you say Halcon cancelled 29,000 acres of Adapt leases. Were these leases in Venango County or where? Can you reveal how you know this? If you can't I will understand.  Do you have any knowledge or even speculation as to why Halcon is doing this?

Permalink Reply by Mark Thompson on September 18, 2012 at 9:52am

Do you anticipate any drilling anytime soon on the properties in Venango that were leased by Shell or Halcon?  

Permalink Reply by Lorrene Wagner on September 16, 2012 at 2:43pm

Just an update. Talked with my lawyers Marcellus law group. They are having a meeting Monday for their clients. Basically to tell them the venango deal has fallen through and that they are trying to contact other oil and gas companies. What makes me mad is that these lawyers that are going to make a mint on their commissions never called me or anyone else when they started to suspect things were going badly. Halcon told them they would not wait the full 90days to pay people and would pay people as their leases cleared. Which of course they never did. I don't think this law firm doesn't have a clue about oil and gas leases. All they saw was easy money for little work. For example they had all their clients sign these non-binding leases with halcon. When I questioned them about it at the beginning they just kept on saying this is standard now in oil and gas leases. Yeah, standard until people start saying no way and aren't the lawyer supposed to advise you not to sign a bad lease like this! So anyway I was talking to the lawyer on the phone and said basically so next time we will make sure we have a binding lease with the next oil and gas company right!!! He says no will just shorten the days they have. Are you kidding me. I feel this approach is okay for the lawyers if you are only in it for the money. Because like mercer you are bond to get some of your clients leased and make money. I feel that this approach does not fulfill their ethical responsibility to all their clients and I will say as much tomorrow night. I will also be parting ways with the MSLG. I am going to try to get a lease signed on my own. I would like to contact Range resources as my property is land locked with them. I've tried calling them but no one will return my call. Can anyone out there give me a contact person a range or another oil and gas company that will actually speak to me.

Permalink Reply by Martha Stevens on September 18, 2012 at 7:28am
Yeah, good luck with that. Range resources is HORRIBLE to deal with. I am sure that like you, also being landlocked by RR, I will have no choice but to do business with them again. I do NOT look forward to it. They are as close to downright dishonest as a company can probably be without incurring major lawsuits. And of course they have some litigation against them, but I think not locally. No doubt we will be stuck with them but I strongly advise you to have legal representation every step of the way . If you think lawyers are unethical wait till you get a load of the RR gang.....
Permalink Reply by jb379 on September 19, 2012 at 1:27am

Lorrene,

 

Just curious, did Range try leasing you in the past since you mention being landlocked by them?

 

JB

Permalink Reply by Jim Litwinowicz on September 19, 2012 at 2:42am

When and where is this meeting? I would like to attend.  Perhaps its time for us to work together and fight back against this company. At least worth looking at the potential benefits of such.

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