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Hey J.D - was there a document or link to go along with this? I may be missing something here....
Sounds like Magnum Hunter/Triad is taking a page from the Chesapeake Energy (CHK Utica LLC) play book. CHK's mortgage was for $500,000,000.00.
Do you know if any of Magnum Hunter/Triad's Leases have a clause prohibiting from having a lien/mortgage against it?
The leasehold interests held by a gas company may be subject to a lien if the gas company decides to borrow against their assets. The loan on the leases in no way affect the landowners
fee (title) interest in the land, no one can borrow money on assets they do not own , unless
the landowner agrees to subordinate their interest in their land to allow such a loan to have a "first position" against the land.
Please, if you are ever presented with a "subordination" agreement of any sort, run do not walk to your attorneys office, or cheaper yet, just tear it up.
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