Chevron Lease Payment

My lease with Chevron expired in Feb. The land agent contacted me and we negotiated a new lease. My payment was supposed to be made 120 days after signing. It was due on July 3.

I still haven't received my payment. I've been in touch with the land agent. He said that lease was subject to management approval. I talked to him 2 weeks ago and he said that I would receive payment in 7 to 10 days. Still haven't received it.

Is anyone else having these problems? I live in Fayette Co. Pa.

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Permalink Reply by Janet Smith on August 1, 2015 at 8:22am
Good idea. I will call them on Monday.
Permalink Reply by Barry D on August 1, 2015 at 9:13am

Janet,

You need to send them something in writing that states why you believe the lease is expired.

Ask for the renewal or a release of lease. Should be sent return receitp requested.

A good oil and gas attorney could write the letter and expedite the situation.

This should get some form of response, and you'll be on the record if ever you need the record.

Permalink Reply by Janet Smith on August 2, 2015 at 12:13am
They are dragging their feet for some reason. A letter from an attorney will let them know I don't appreciate being lied to.
Permalink Reply by Jon on August 1, 2015 at 4:44pm

Is it 120 days or is it 120 business days?

Permalink Reply by Barry D on August 2, 2015 at 4:39am

Although it may not state it in the lease, I believe it is understood that "days" means "business days. So 120 "days" could mean 6 months.

In this case you should receive a check about August 3 +/- a day or two.

Permalink Reply by Janet Smith on August 2, 2015 at 9:43am
It stated July 3 as the deadline.
Permalink Reply by Barry D on August 2, 2015 at 4:06pm

In oil and gas speak that does not necessarily mean it is the drop dead date.

The company could be entitled to be notified by you that they have defaulted, then the company may have up to 60 days to respond.

It all depends upon the wording of your lease.

Again, I suggest that your best option is to notify the company in writing by certified mail, return receipt requested.

I also suggest that you consult with a good oil and gas attorney.

Permalink Reply by Janet Smith on August 2, 2015 at 12:07am
120 days
Permalink Reply by paleface on August 2, 2015 at 7:47am

It would be interesting to see the list of Holidays.There might be some names of people on that list we never heard of before.

Permalink Reply by Philip Thackray on August 2, 2015 at 8:24am

Or people we have heard of like George P Mitchell day!

Permalink Reply by Barry D on August 2, 2015 at 4:08pm

The 120 days may include so many religious holidays depending upon religious affiliation.

Wow, who really knows how long 120 days is.

And, what calendar would be used ? Solar, Lunar, Julian etc. ?

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