ECLIPSE RESOURCES AMENDMENT TO CONTRACT EXTENSION

I HAVE BEEN CONTACTED BY ECLIPSE ABOUT AMMENDING MY CONTRACT ALONG WITH SEVERAL OTHERS IN MONROE COUNTY OHIO.  MY CONTRACT IS SIMILAR TO THE SEOLA CONTRACT DONE BY JENNIFER GARRISON.  THEY WANT TO PAY ME  IN ADVANCE $1,000 AN ACRE TO CHANGE MY CONTRACT TO 5 -0NE YEAR EXTENSIONS INSTEAD OF THE $5,000 AN ACRE FOR THE ONE TIME RENEWAL.  MY CONTRACT DOES NOT EXPIRE FOR ANOTHER18 MONTHS.  I UNDERSTAND WHY THEY WANT TO DO THIS, BUT THE AMMENDMENT IS SEVERAL PAGES LONG.  I LIKE THE CONTRACT THE WAY IT IS WRITTEN NOW AND I AM AFRAID THE WORDING CAN CHANGE OTHER PARTS OF MY CONTRACT.  I AM IN CONTACT WITH MY LAWYER TO DISCUSS THIS, BUT I WAS WONDERING WHAT OTHERS IN MONROE COUNTY SIGNED WITH ECLIPSE THINK OF THE WORDING OF THIS AMMENDMENT.

Views: 8161

▶ Reply to This

Replies to This Discussion

Permalink Reply by Philip Brutz on February 8, 2016 at 6:28am

ECR stock down to .76 cents.

Permalink Reply by old trapper on February 8, 2016 at 6:13am

I Talked to my lawyer the only change he said is in the payment . I signed in December 59 acres green township  Monroe county

Permalink Reply by jerry lee nichols on February 8, 2016 at 9:19am

 Question guys, My mothers seola lease is over in Mar 2017, at least the first five year term. If eclipse files for bankruptcy are the leases tolled or if not renewed or paid by the court they just expire?

Permalink Reply by old trapper on February 8, 2016 at 5:39pm

Im not a lawyer but if your lease expires  you have no lease  your free to go !

Permalink Reply by searcherone on February 8, 2016 at 3:44pm

old trapper,

Was your lease done with the SEOLA group or did you do it directly with Eclipse?    And the amendment you signed did it only refer to the payment or were there other clauses?

Permalink Reply by old trapper on February 8, 2016 at 5:33pm

Only payment nothing more  From lump sum to yearly payments no change in contract !

Permalink Reply by searcherone on February 9, 2016 at 12:33am

old trapper,

The question remains did you sign with the Seola group lease or on your own with Eclipse?

Depending on which way you did sign IMHO the amendment would be different.   

I had an Eclipse lease thrown on my porch and it was extremely different than the Seola lease done with Eclipse. 

Permalink Reply by old trapper on February 9, 2016 at 2:29am

I signed on my own wilh eclipse .

Permalink Reply by Olive Sue on February 10, 2016 at 4:26am

I'll just throw it out there that Eclipse did negotiate the amendment for some, however not the option terms.  I do not know of any that were changed to 5 year terms rather than 5 year options.  Virtually no other changes to the lease.  Now I hear Antero has an amendment out to the Baker Group (Western Monroe County) and it "supposedly" has many lease changes in it, I have not seen it,  just hearing this, they have group meetings scheduled.

Permalink Reply by searcherone on February 11, 2016 at 6:16am

At noon today, Feb 11, Eclipse's stock is trading at 67 cents per share.

Permalink Reply by jerry lee nichols on February 11, 2016 at 12:55pm

is it still listed or is it traded on the Pink Sheets?

Permalink Reply by searcherone on February 11, 2016 at 2:14pm

Eclipse closed at 71 cents today.

And here is a summary of stock price.

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service