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Royalty payment legislation in works

August 30, 2013

In response to some natural gas drilling companies eating into landowners’ royalty checks with post-production costs, several state lawmakers are drafting legislation to combat the problem....

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(16)

rick424

Aug-30-13 7:34 AM

Too funny, gas companies taking post production costs from lease holder's royalty checks. What a bunch of crooks. And check this out, we have to get government involved to fix it. You know we need less government in out lives, gee where have I heard that before and where are those people on here?

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rick424

Aug-30-13 7:43 AM

By the way where is that "The Macellous Shale Experience" logo you put on those goody two shoes articles. I didn't see it her and isn't this part of the experience??

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eriklatranyi

Aug-30-13 7:53 AM

Yes, Rick, we always need more gov't for those who don't read their lease agreements and see where it says "post-production costs may be deducted from any royalty payments".

Gov't should not be protecting the stupid, but should promote the intelligent.

Of course, with liberals in charge, gov't creates more idiots and restrains the intelligent.....schools, business and private life.

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rick424

Aug-30-13 8:03 AM

Who would of ever thought the gas companies would take post production cost off royalty checks? I am sure it was never in any ones lease agreement.There all kinds of loopholes these guys can figure out to rip off people until someone catches them. Who knows, maybe they can plant poison ivy when they are done and that is not in an agreement. Face it Erik, this is big business at its finest with government coming in to fix it. .

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rick424

Aug-30-13 10:26 AM

A great story on the WNEP web site about this. Check it out and make your own decisions.

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leaningright

Aug-30-13 11:22 AM

Rick and Eric, it is apparent that you dont know what your talking about.Have you ever read a lease from the gas companies? Why would the State have a GMRA (Guaranteed Minimum Royalty Act) saying the 12.5% is to be paid to the royalty owner if the act truly doesnt guarantee that? Maybe the "stupid" people are the judges in our State Supreme court that found in favor of the gas companies which allow the gas companies to rip people off.? Or maybe it is our "stupid" state legislators that drafted the original act? People were lied to by "landman". Once the supreme court ruled on the initial case all of the other gas companies piled on of course, not all of them, but most of them.Get informed. Do you own a lease? I bet Gene Yaws lease doesn't allow for these charges, i would bet he has a lease. The gas companies should be good neighbors and do the right thing here or their welcome will be short lived in this area. New York state residents should be forewarned

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eriklatranyi

Aug-30-13 1:41 PM

I have read lease agreements.

Again, if you sign it without understanding it, you only have yourself to blame.

There is nothing illegal here.

Oh, if I signed a lease, I would make many changes to the first one offered to me.

....and because liberals have turned this nation into a litigious nightmare, I would have an attorney read it as well.

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rick424

Aug-30-13 2:25 PM

Tell me if on any of those agreements it says they will do this. It probably does not say anything and this was a way to make more money. I assume no lawyer would have caught this, in this area anyway. These guys came a knocking and took advantage of some good people. They just got caught. So now government has to FIX IT. When they were at my door I told them to go home. Why would the gas companies even think about taking post production costs out of royalty checks. I mean post production is a cost to do business.

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leaningright

Aug-30-13 2:34 PM

Rick, you must at least have some understanding, Eric, not so much i dont think. The only way that people who have a bad lease will get relief is if the courts decision is overturned, good luck fighting the multi billion dollar gas companies.They should be ashamed for doing business this way. The state of PA should be ashamed for allowing it to go on any further. Say what you want, it is bad business no matter what you say.

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leaningright

Aug-30-13 2:37 PM

Eric, one other thing, everybody in the state benefits from these wells, it is called ACT13, $50,000 per well drilled directly to the state.FYI

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eriklatranyi

Aug-30-13 4:22 PM

Rick:

Yes, it says so right in the lease.

If the gas companies did something that is outside the terms of the lease, it is an automatic lawsuit or you can go to arbitration.

Do you people know anything about contract law?

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BornHere

Aug-30-13 5:02 PM

This is why you should have your lawyer look over the lease BEFORE you sign anything, that way if anything is wrong (with the wording) of the lease your lawyer will catch it.

Then have a Baseline test done BEFORE any drilling starts and give that copy to your lawyer and keep a copy for yourself, you must protect your assets.

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Capricorn1

Aug-30-13 6:24 PM

You know we need less government in out lives, gee where have I heard that before and where are those people on here? Rick424

Rick, you mean the same government that those against the industry accuse of being corrupt and taking payoffs and looking the other way? You want government intervention and oversight in the industry, but them when they don't report the facts you want, then they are corrupt. You like big government, now lay in the bed you made.

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CTMopar

Aug-30-13 8:02 PM

Folks the ones making these decisions are not American and could care less what happens in little town PA...I would like to see the bank account of Mr. Yaw and all of his associates...As the late Paul Harvey would say now the "Rest of the Story"...If you invest and have the initial cost and post production cost removed from your overhead sounds like a money making deal!!!

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CTMopar

Aug-30-13 8:06 PM

On a positive note we now have more qualified water truck drivers!!!

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CTMopar

Aug-30-13 8:19 PM

When folks are making money hand over foot the criminals are not far behind...That will be a lesson that government won't want any part of!!!

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