Replies to This Discussion

Permalink Reply by Philip Brutz on October 3, 2012 at 3:36am

I signed the KWGD lease with Gulfport last October and we receive our bonus within the 120 day time period.

These were the changes to the original lease:

Lease set back reduced from 1,000 feet to 500 feet from a structure (whether habitable or inhabitable).

There is a 5 year renewal instead of a 3 year renewal and the renewal is at 110% of the original signing bonus.

The spud fee was reduced to $15,000 but includes all other damages for crops, timber and subsurface and above surface damages incurred by drilling, as opposed to a flat spud fee without any additional damages.

Permalink Reply by Red Skelton on October 3, 2012 at 4:53am

I too signed the KWGD lease with Gulfport last Oct. and received payment in a timely fashion. I'm pretty well convinced that if you sign a lease with any gas and oil company on your own you are out to get screwed. They will cherry pick the properties they want and cast the rest aside and there is little you can do about it. There is power in numbers and KWGD definately has their act together in forming groups. They are good people.

Permalink Reply by Philip Brutz on October 3, 2012 at 5:03am

I agree.

Permalink Reply by Shower Bath on October 3, 2012 at 6:54am

Two things to keep in mind about the KWGD final lease; you don't have to sign it if it is unacceptable to you, and they hold all signed leases at their office untill you have been paid. Also, whoever takes the lease package must take all of the included properties as long as there is a clear title. They are professional and upfront.

Randy

Permalink Reply by DM on October 3, 2012 at 12:24pm

I think the leases that are falling apart with Gulfport were those that were signed without KWGD representation.

Permalink Reply by Brian M on November 4, 2012 at 2:42pm

Is KWGD still signing folks with Gulfport? Guernsey county Westland Township