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edgemarc bankruptcy

Started this discussion. Last reply by pa landowner Jun 5. 2 Replies

With Edgemarc declaring bankruptcy and they have been asking for extensions which i believe is a non starter because they have not signed original contracts and therefore how can we sign an extension…Continue

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pa landowner replied to pa landowner's discussion 'edgemarc bankruptcy'
"The deal that Edgemarc made with ETP is what did them in by one day  "EdgeMarc responded that it had terminated the contract because the pipeline wasn’t put into commercial service by the date that Energy Transfer guaranteed: Jan. 1,…"
Jun 5
shakeshale replied to pa landowner's discussion 'edgemarc bankruptcy'
"Guess old Goldman Sachs stopped backing edgmarc"
Jun 5
pa landowner added a discussion to the group Butler County, PA
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Edgemarc Bankruptcy

With Edgemarc declaring bankruptcy combined with the request for extension of 120 days over and above the standard 120 workdays and 75 extension it is possible that Edgemarc will not be taking advantage .  IF they cannot fullfill their lease bonus agreements, the landowners if approached by anyone wanting to lease again hold out for 3000 per acre and 12.5% royalty at the wellhead.  ETP would not be putting in 1.5 billion dollar infrastructure if there was not significant gas below the land. The…See More
May 21
pa landowner joined Keith Mauck (Site Publisher)'s group
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Butler County, PA

All things pertaining to leasing, drilling and production in Butler County.Lease Offers (view / add)+ Add a Group DiscussionSee More
May 21
pa landowner posted a discussion

edgemarc bankruptcy

With Edgemarc declaring bankruptcy and they have been asking for extensions which i believe is a non starter because they have not signed original contracts and therefore how can we sign an extension on a non existent contract.   By contract they are only allowed to extend 45 days after orginial 120 days.  However the point is that if they cannot fullfill the original contract due to the bankruptcy and another company comes in then the owners of the land should hold out for 3000 per acre and…See More
May 20

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