Update on Scare tactics or truth

We found an attorney in Cambridge 2 weeks ago and he was in discussion with oxford/eclipse, who had been offering 12.5% gross and 1000.00 per acre per year. Was informed last week that that offer is now being rescinded, due to the top lease we signed with Antero 4 years ago. Now it will be 100.00 per acre net, and that they are set to drill next week on my property, to hold onto the lease. Now what? we have talked to the attorney about a possible temporary restraining order to stop this from happening. Need your insights and suggestions. We all know what NET means, so what do I do? if I do the TRO, then we sit in litigation for god knows how long, and they may be able to get an extension to the original lease since they were locked out.

Feel like I'm in-between a rock and a hard place. Too late to get another attorney, since I do not now have the best confidence in my present one. Any direction would be appreciated.

 

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Permalink Reply by JK on October 24, 2013 at 12:03pm

This sounds totally messed up.

Is the lease actually in place and a permit to drill issued?

Injunction comes to mind.

Then maybe the playing field will be leveled.

Permalink Reply by Airman on October 25, 2013 at 5:32am

MESSED UP! Good word for it, but I am only relaying what my attorney is telling me. By injunction, I guess you are talking restraining order, right. I have not seen a permit pulled on this as of yet, but will check again.

Permalink Reply by JK on October 25, 2013 at 12:47pm

Then your attorney sounds messed up.

Getting permits takes time and there is progressive record of each step on the DEP website.

Start checking this out yourself..

Permalink Reply by Eric on October 25, 2013 at 5:52am

i thought these leases were invalidated?

Permalink Reply by maag man on November 7, 2013 at 3:34am

if you sell a portion of your minerals.. then the partner .. if you chose a good one.. could assist you in this fight... 

 

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on November 7, 2013 at 5:06am

Mikey,

Are you under a current lease?  Does the current lease allow the company to drill a well?  If the answer is 'yes' then I don't see how a TRO would be granted.  If the property is leased then the company holding the lease enjoys the rights granted to them.  I assume Eclipse is trying to get you to sign an extension and, failing that, will drill their well before the old lease expires.  As difficult as it is to swallow that is their right if they are operating under a current, valid lease.

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