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Expired lease

Started this discussion. Last reply by Darrell Weaver Jul 5. 10 Replies

Everyone doesn’t sighn a gas lease on the same day . If one lease expires in the unit that you are in does that cancel the whole unit ?Continue

Expiring leases

Started this discussion. Last reply by Don C Jan 7, 2020. 29 Replies

With a major slow down of drilling what does that do to the 2nd term leases going to expire in the near future 3rd term or a lease extension possible?Continue

Cracker plant

Started this discussion. Last reply by BW_Appalachia Dec 17, 2019. 4 Replies

With existing wells dropping off and cutting back on drilling how will this effect the new cracker plant ?Continue

Lease extension

Started this discussion. Last reply by Darrell Weaver Aug 2, 2019. 7 Replies

with two and half years left of the second term and drilling slow because of prices is an extension of the second term out of the question?Continue

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Latest Activity

Darrell Weaver replied to william george allison's discussion 'Expired lease'
"Believe it, this happened to me. At the end of second term Shell surrendered my lease…"
Jul 5
william george allison replied to william george allison's discussion 'Expired lease'
"Thanks for the good info "
Jun 29
Kyle Nuttall replied to william george allison's discussion 'Expired lease'
"One expired lease does not a unit cancel.  Here's why. The oil and gas rights that you own are real property, just like a house or a plot of land.  You can wheel and deal on your piece of property without directly affecting the other…"
Jun 29
Thomas Lilli replied to william george allison's discussion 'Expired lease'
"If you had a capable oil and gas attorney negotiate your lease, most likely he will have spelled out what your situation is.  What we’ve been told, and have experienced is that the gas companies will plan their activity around the end of…"
Jun 29
william george allison replied to william george allison's discussion 'Expired lease'
"Ok thanks I can’t see the oil & gas company paying out bonus money 2 times and not drilling time will tell ."
Jun 29
Joe C. replied to william george allison's discussion 'Expired lease'
Jun 28
Joe C. replied to william george allison's discussion 'Expired lease'
Jun 28
Joe C. replied to william george allison's discussion 'Expired lease'
"William, a unit will not void over a lease expiring. Once a operator files a DEP permit and it’s approved and then a DPU is filed in the courthouse, all the drilling operator has to do is start the casing pipe and the unit is in effect and…"
Jun 28
william george allison replied to william george allison's discussion 'Expired lease'
"We are not drilled yet lease expires next may if it expires is the whole pooled unit void?"
Jun 27
Thomas Lilli replied to william george allison's discussion 'Expired lease'
"Usually, you’re not unitized unless the well/s are in production. If you’re in production, your lease is into the production phase. It doesn’t end until production has ended. "
Jun 26
william george allison posted a discussion

Expired lease

Everyone doesn’t sighn a gas lease on the same day . If one lease expires in the unit that you are in does that cancel the whole unit ?See More
Jun 26
Don C replied to william george allison's discussion 'Expiring leases'
"It was Bill Williams not Williamson"
Jan 7, 2020
Don C replied to william george allison's discussion 'Expiring leases'
"Encino has ours now and our 1st lease was in 2011 with Chk. They decided to pay us shut in royalty when they should have paid us for 2nd term. Its still pending."
Jan 7, 2020
ray schmidt replied to william george allison's discussion 'Expiring leases'
"no had a.l.o.v. lease. hundreds of landowners signed at that time with chessapeake"
Jan 7, 2020
william george allison replied to william george allison's discussion 'Expiring leases'
"I agree Becky it doesn’t look good and range is one of the more stable companies out there "
Jan 7, 2020
Becky Moore replied to william george allison's discussion 'Expiring leases'
"Have you seen the Range Resources 2020 Budget - spending 29% less than 2019. Leasing is going to be tough the next couple of years. "
Jan 7, 2020

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Introduce Yourself
the gas company has treated me ok so far but i like to stay on top of things in case they dont treat me fair
What is your role?
Landowner
Which state(s) are you following?
West Virginia
What shale plays do you follow?
All Shale Plays

Comment Wall (9 comments)

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At 7:47am on March 3, 2018, Bullfrex said…

William, I am not the best person for an answer here, but I will give you my opinion. Keeping in mind I don't know how other Producers treat their Lessors, we asked for and got a no deductions clause added to the addenda. Our producer has honored that and they take zero deductions from our production to pay royalties.

Having said that, the horror stories I read on this forum concerning the backdoor deductions being taken from a gross at the wellhead worded lease leads me to believe the lease language matters less than the integrity of the Lessee.

Your question is not dumb....wish I could say the same for my response to it! lol

At 7:29pm on March 1, 2018, Bullfrex said…

Yes William....that is the completion rig. It is a smaller drilling rig that is used before AND after the BIG rig drilled the bulk of the well....primarily the bottom of the vertical well and the entire horizontal leg.

That rig will open the cement plug placed after the fracing process.

After that process is complete, the operators will  conduct the 'flowback' work, where all the water (most of it, anyway) is recovered during the flowing of produced gas. This will last some time, depending on the amount of water used in fracing.

This is the final step of production, and you will collect royalties at some future time from this stage.

I wish you well, and enjoy the gift!! Only today's though....don't spend it until you have it, because the true decline curve will not be revealed for 12 months or more, depending on production methods.

At 2:59pm on October 12, 2017, Daryl Brown said…

wow.  Well good for you.  She probably had a serious problem but that's not your fault.  Ya I guess if you got it that cheap spending a $1,000 on some legal advice might not be so bad.  Still a great deal overall.

At 12:08pm on October 12, 2017, Daryl Brown said…

Well I don't know how long ago this event occured nor do I know where this interest is located but what I wouldn't do is count on them to do the homework to try to determine who owns it.  If you think you own it then by all means get the documents in your possession to prove it and make sure they are all filed properly at the courthouse or abstract office etc.  There are many instances in which it is impossible to determine who owns all the interests due to the extreme fractionation of these interests after so many generations have passed.  In those cases the O&G remits the funds for royalties etc to the state and it goes into the unclaimed property account.  Just because they can't determine who owns 100% of the minerals doesn't stop them from drilling nor should it.  It is a daunting task to wade through the plethora of legal documents  to try to figure all this out and at some point they stop and just call it good.  It is a problem for sure.  In Louisiana the minerals go back to the surface owner after so many years of no production so this keeps things in some order and I'm not sure that is not the best system.  In 200 more years what will happen is the state will end up getting the lions share as ownership will just be impossible to determine in many cases.

At 11:53am on October 12, 2017, Daryl Brown said…

I don't know anything about that sir. 

Not a lawyer but in Oklahoma the minerals can and most times have been severed from the surface so there are deeds covering those minerals separately.  Somewhere in all that process as the estate's assets were divided per the instructions in the Will or trust I would have assumed some paper trail would have been created that can be followed to show how those interests were transfered.  I acted as the executor for my parents estate and that is how it was done.  Oklahoma is likely different than WV or OH or PA.  I'd seek professional guidance on this issue.  I am certainly not qualified to render an opinion on the matter.

At 2:51pm on October 11, 2017, Daryl Brown said…

I suppose that is a possibility but more likely there are those who know that drilling is eminent (from reviewing permit applications) or they can see that a producing well is online and have evaluated the production data (publicly available) from the well enough to form and opinion as to the ultimate reserves. 

Cash is king to E&P companies and most would rather pay you a percentage of the ultimate find rather than try to buy you out initially.  That second option requires more $ and as I said earlier "cash is king" so they would likely not choose to do that but yes it is possible.

At 9:43am on October 11, 2017, Daryl Brown said…

My opinion of groups/companies/shops whatever you want to call them who are offering to buy your minerals is they are looking for uninformed owners who see dollar signs and suddenly lose perspective of what they hold.  There are so many factors that go into determining the value of minerals that it's very difficult for them to know exactly what they have and certainly attempting to value that unknown is then nearly impossible.  The buyers are holding all the cards and they simply want to make money.  

Here is a scenario to consider...........  Mineral owner is aging male/female with needs from healthcare to basic survival and has little to no money but owns minerals that were passed down from descendants long ago.  At 70 years old they may have 10 years left they may have days who knows.  The kids are deadbeats who have milked them for all they are worth their whole lives and have personal lives that are a tragedy of errors and bad decisions and maintain little to no relationship with the aging mineral owner so why leave it to them to squander on booze, drugs and trashy women.  Someone comes along and offers to pay them some real $ for what they own and they look at the alternatives of never seeing a penny to dying before they do see a penny and they jump at the chance and sacrifice the minerals to the sharks hunting value.  While my example may be extreme tell me in your part of the world how many people fit this exact scenario or some resemblance of it.  A lot I suspect.  In the end did the mineral owner make a bad choice?  I can't say they did cause at least they get something for asset and the deadbeat children get what they deserve which is NOTHING!

These companies that buy these minerals then package them up as a block and sell them to a host of investor groups who are looking for these types of assets all while making a tidy margin for themselves.  It's called capitalism!

Make sense?

At 8:42pm on January 27, 2013, Bob Kelley said…

The Square Headed unit is pretty inactive in fact I think it is dead, at least that the way it smells.

At 11:19am on January 25, 2013, Jason said…
No - I know where that new plant is. Wrong side of 22.
 
 
 

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