*** March Mischief Train... ***

[pajeff02]

You're a poopy face

My bad... I should know better than to walk behind my daughter's horse.

[cammed goat]

Ever try Sweet n Low or Splenda? To me, tastes like salt. THE YUCK!!!

[pajeff02]

If I drink coffee or tea (rare) I always use real sugar.

[cammed goat]

If I drink coffee or tea (rare) I always use real sugar.

One morning, I was on my way to work and stopped at Dunkin Donuts for a caramel latte and when I took a sip after getting to work, I gagged. It sucked!!

[Zapper2003]

jeff, you deal at all with these gas leases?

[pajeff02]

jeff, you deal at all with these gas leases?

Yes I do.

[Nhra Firebird]

jeff, you deal at all with these gas leases?

I hope. lol

[Zapper2003]

hmm, gotsta gosign mine wednesday night, don't know nothin' bout it. Fortuna/Talisman Energy, 2500/acre @ 14% royalties. I know there's a lot more to it, but the fkkin' 9.4 acre drill pad is like 60 yards from my property.

[Nhra Firebird]

hmm, gotsta gosign mine wednesday night, don't know nothin' bout it. Fortuna/Talisman Energy, 2500/acre @ 14% royalties. I know there's a lot more to it, but the fkkin' 9.4 acre drill pad is like 60 yards from my property.

we might be signing for 240 acres down the road.

[Zapper2003]

my uncle will be re-signing wednesday as well for his remaining 240ish acres.

Fortuna found an error in our lease from 4.5 years ago. They came to him, told him to keep his original 11k (60/acre) lease, but resign for the new money.

[pajeff02]

hmm, gotsta gosign mine wednesday night, don't know nothin' bout it. Fortuna/Talisman Energy, 2500/acre @ 14% royalties. I know there's a lot more to it, but the fkkin' 9.4 acre drill pad is like 60 yards from my property.

In a nutshell:

Delete the extension of term clause. Delete the gas storage clause. You want added in all of the following: Special warranty of title, No injection of waste material, Water testing, Tax liability, Setback increased, Site approval, Fencing, Hold harmless & Indemnify, Payment based on gross not net, No gas pipes, No pump stations w/in a certain distance, and some others that I am probably not thinking of at the moment...

[pajeff02]

Also, with anything over 10 acres a Pugh Clause is a good thing to have.

[Nhra Firebird]

Also, with anything over 10 acres a Pugh Clause is a good thing to have.

From what I heard if you have 100 acres and say 70 acres can be drilled on the gas company still pays you for 100 acres. Is that true?

[Nhra Firebird]

We have the mineral rights but i hear a lot of people in our area don't

[pajeff02]

From what I heard if you have 100 acres and say 70 acres can be drilled on the gas company still pays you for 100 acres. Is that true?

There are clauses to make the gas company include the entire acreage in the drilling unit, or to release the unutilized acreage so that it can be re-leased to another company. Here's some info I just pulled up, shows how complex this crap can be: http://www.mineralweb.com/pugh-clause-a-237.html

[Nhra Firebird]

You will need to give us a drilling for dummies paper.

[pajeff02]

We have the mineral rights but i hear a lot of people in our area don't

It's a total crap shoot anymore. People that think they have them don't and vice versa. The courthouses are crawling with title searchers all over our region. The problem is that a standard search -- performed when you purchase real estate -- only goes back 60 years. A lot of the rights were separated from the property back in the late 1800's and early 1900's.

Absent a full search, one of the best indicators of there being retained rights is a prior lease on the property. Not always accurate, but a step in the right direction. Legislature is considering laws that will re-unite property owners with their mineral rights.

[cammed goat]

Man...all this legal jargon makes my head numb.

[pajeff02]

You will need to give us a drilling for dummies paper.

There is just so much to it. My partner (IN B4 THE HOMO JOKES) went to Texas for a week back in January for some additional training. They are actually a bit jealous of Pennsylvania right now as the Marcellus shale is producing gas in quantities not heard of down that way.

[pajeff02]

Man...all this legal jargon makes my head numb.

Mine too!