D&L Energy

Has anyone in the northern Mercer County area (Kennard/Osgood) been approached by a land man from Midwest Land Services, representing D&L Energy?  I have an existing 10 year old lease with one well and they left me, on my porch, an amendment to unitize my 23 acres.  It doesn't have any other changes to the lease other than changing the size of the pooling and unitization to 1,280 acres.  I called the guy who left his card and asked him "what's in it for me?"  My question is, do I have any leverage to get a higher royalty percentage or up front money and should I see an O&G attorney before signing anything.  Anybody else have a situation similar to this?

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Permalink Reply by CL on February 1, 2013 at 4:18am

please do

cl

Permalink Reply by tnc on February 1, 2013 at 12:19pm

I can only speak about  us and our specific situation. I do not imply this will apply to you:

Very enlightening regarding what is reasonable and what is realistic for HBP people.  It was an excellent investment for us. 

Our counsel was surprised that the HBP folks in this arae have not banded together to try and gain some leverage with these companies as in this type of situation.

In summary - as a group, we might hvae some leverage - individually, if you hold out you become less and less important as others sign.  Holdouts may be left standing on principle on the outside while others are included in a unit.

CL  - feel free to send me a private message for specifics if you are interested.

Permalink Reply by cecil on February 1, 2013 at 1:04pm

tnc: The Greenville Record Argus ran a front page article about the Halcon leasing mess today. As I mentioned in a previous post ,someone has to unite  those with D&L leases, and quickly, before those uninformed or intimidated property owners make a serious mistake. Call Steve Gargasz at the Record Argus and tell him your story. Suggest to him that an article about what D&L is trying to do would be an important community service.Someone needs to step up to the plate.

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