amendment

anyone have an eclipse lease that antero is seeking change I got a letter from turner oil and gas on anteros behalf  a few weeks ago offering us 1000 per acre but it looks like most of the original lease has be deleated and replaced, things I see are changes of royalties now paying on gross and the original is paying on the net, looks like also they want to wait 6 months after production to pay royalties  there are 8 pages of wording changes anyone else receive one of these???

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Permalink Reply by The Hiker on July 22, 2014 at 11:54am

Lots of these are being received by many landowners with Eclipse leases.    Antero wants to include some parcels of Eclipse acreage into Antero drilling units and they don't like something in the Eclipse lease language....and they are willing to pay big bucks to cure it.   I know of one landowner in this situation that had his royalty % bumped from 16% to 20% and he didn't even ask for it....all as an inducement to sign the "Amendment".  There is something very "funny" going on here and you best get with a real oil/gas attorney (not a mom and pop divorces, real estate type) to figure it out.   The "Amendment" will essentially be a new lease, and you have lots of wiggle room here to increase your $/acre payment, royalty %, landowner protections, shut-in clause, payment waiting period, etc.... the whole thing is up for grabs.   Turner Oil is Antero's hatchet man, so beware.   If you need an attorney that has experience with Eclipse in this situation, friend request me.   Don't sign anything until you get legal advice.    THE HIKER

Permalink Reply by searcherone on July 22, 2014 at 2:54pm

Joe, how many pages was the original Eclipse lease, just a few with short paragraphs?   I have an Eclipse lease on very small acreage signed through a land group and it is twenty six pages long.

You and others would do well to take seriously what Hiker has stated get a real oil and gas attorney.   Maybe find some other landowners who have received the letters.   Remember their is strength in numbers.   Now is not the time to be the typical quiet,  keep it to yourself SE Ohio landowner like most of us are.   And this is your opportunity for a DO OVER--it is like writing a new lease.   Antero is seeing something that is not right about the lease you have with Eclipse.   Make this opportunity work well for you and your family and maybe help the neighbors too.

Anyone want to offer some ideas what is wrong with the Eclipse lease that needs cured or lol is it the whole thing.

Permalink Reply by joe on July 22, 2014 at 3:14pm

The original lease is 12 pages

Permalink Reply by joe on July 22, 2014 at 3:09pm

We ask an lawyer and he was willing to nego for us but he wants 50%.. is that standard? that seems like a lot for not doing much they are already drilling and they seem to be in a real hurry to fix this, but I am in no hurry.

Permalink Reply by Jack Straw on July 22, 2014 at 3:18pm

Run like a bunny from this Attorney; this as appalling!

In situations like this, you pay an hourly fee .... you do not make him a 50% partner .... 5% would be too much.

By the way; if you would like to buy a new car, I'll negotiate the price for you; and, I'll only charge 40% of the price ..... just joking .... but I think that you can see how outrageous the Attorney's greedy offer was.

JS

Permalink Reply by joe on July 22, 2014 at 3:23pm

Anyone know of a oil and gas lawyer that accepts by the hour. I fired that lawyer today, he tried to tell me it was standard to pay 50% but I was not buying it

Permalink Reply by searcherone on July 22, 2014 at 3:39pm

Way to go Joe!!  Tell us what county he is in, but not his name.  We in SE Ohio can figure it out.    Good that you are not falling into their hurry up and sign this amendment pressure.  It is after all about more than the dollar amount, but definitely worth more than $!000 an acre.

Permalink Reply by The Hiker on July 23, 2014 at 2:38am

Ditto that Searcherone and Jack!  Depending on where you are at, Flite Freimann at  Bricker/Eckler in Marietta will do this for you by the hour...and has done this amendment before for several of my neighbors.  740 374 2274.   if you are closer to Columbus, they have a guy in that office equally skilled.  Oil/gas is all they do.

No, tell us your scumball attorney's name, so others can avoid.   50%!  The guy should be exposed.

Permalink Reply by joe on July 23, 2014 at 3:53am
Thanks Hiker, I will give them a call, you guys are great
Permalink Reply by Philip Brutz on July 23, 2014 at 4:20am

Is this the law firm that wrote the Smith-Goshen lease?

Permalink Reply by Dexter Green on July 23, 2014 at 4:27am

Dewey, Cheatem, and Howe?

Permalink Reply by joe on July 23, 2014 at 4:47am
Is there a prob with these lawyers. That Hiker gave me, or is that the name of these guys I fired lol

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