Logan County, CO - Oil & Gas Discussion

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Comment by Paul Evanoff yesterday

anything happening with the drilling?

Comment by Jenna H. Keller on March 11, 2013 at 5:56pm

The best practice is to exchange original documents for a check, which can often be coordinated through a local title company, bank or attorney's office.  If you have expectation on payment make sure that the check must reach a certain amount before the third party is authorized to release documents.  Other options include asking for a shorter time period for order for payment and making it clear as to what happens i.e. no lease if the check doesn't reach a certain amount.  You might also consider including the lease a clause that they must provide title information so you can review it as well.  Old abstracts on the property can be invaluable in looking into these issues too--so keep those around.  If you have a lease encumbering your property that shouldn't, then look at CRS § 38-42-104 as it's intended to avoid that situation.   Hope that gives everyone a few things to think about. 

The information is for general information purposes only. This should not be substituted for legal advice and should not be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or reading does not constitute, an attorney-client relationship.  You are encouraged to contact an attorney for legal advice concerning the information provided.

Comment by R Jones on March 8, 2013 at 9:03am

This should not be the new way business is done.  I appreciate the advise and all should consider this moving forward.  Be firm but not contrary. I would appreciate Jenna's thoughts on your suggestion as well.

Comment by r w kennedy on March 7, 2013 at 11:00am

Mr. Jones, I have had that experience also, although not in your area. I believe it is how business is done now, tie you up without payment, if you are trusting enough to send them an executed lease. Best to tell them to complete title search before a deal. You could send a copy of the executed lease boldly marked copy that they could not record. If they really want your minerals the lessee can execute the lease and then send it to you, so they would have to have a good reason to back out, something akin to you provably not actually being the minerals owner. Good luck and be careful out there.

Comment by Cowboy from Arizona on March 7, 2013 at 10:35am

Exactly,  I signed with Lincoln Oil in August and they recently reduced my acerage from 225 to 67.5 siting clouds on title. After weeks of trying to get them to send me some evidence  I checked one out that was 90 acres on which they appeared to be wrong. I hope not everyone is having these problems.

Comment by R Jones on March 7, 2013 at 9:53am

I signed with Double Eagle (320 acres in N Logan County) in August 2012. It was recorded at the county but I was never paid and eventually I got them to released the lease.  I then signed with Lincoln oil who then informed me they were no longer interested last month just after signing and before sending the bonus.  WTF! These 'orders of payment' that are included in the lease packet are rediculous.  I have signed other leases and the bonuses were promt, not 90 days (or never) holding you captive.  The relationship that is developed with mineral owners and operators has to be open and honest.  Have others had this experience?

Comment by Cowboy from Arizona on March 5, 2013 at 2:27pm

Has anyone been paid by Lincoln Oil and Gas on leases they negotiated since their Incorporation in mid 2012? Thanks for the information!

Comment by PowderHoundCO on February 19, 2013 at 12:44pm

Is anyone actively in dialogue with any of the companies that were originally involved in these plays? 

Comment by k2 on February 19, 2013 at 12:41pm

Matt,   All of this is a little intimidating at first so just call Jenna Keller, she's familiar with the latest offers in Logan county.   She has helped a lot of Logan County landowners in the last 8 mouths.   She will explain all of this oil/gas stuff in easy to understand terms. 

Here's the number to her office.

Otis, Coan & Peters, LLC  (970) 225-6700

Comment by Matthew Allen Kirchnavy on February 15, 2013 at 9:47pm

Any insight for a beginner in all of this, like myself.  I am just looking for any information on what may be happening near Peetz right now because I do not live anywhere near there and its pretty hard to find any information here.  Anyways thank you all again for your time.

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