0 – 15 Minutes
Discussion regarding a second bite of the apple with oil and gas lease and natural gas pipeline agreements amendments and modifications. Landowners must take advantage of rare second opportunities when presented. An extension or modification of an existing agreement may present landowners the ability to increase compensation and reach better written agreements with energy companies.
15 – 30 Minutes
Doug discusses oil and gas lease amendments and modifications, and extensions and ratifications. Doug gives excellent examples of how landowners can wrongly evaluate their negation leverage, whether it be by over estimating or underestimating their leverage. Landowners can over estimate their leverage and end up losing their lease or getting a much lower lease offer in the future. Landowners may also under estimate their negotiation leverage and leave hundreds of thousands of dollars and possibly an increase of royalty percentage on the table. Doug explains why it is critical for landowners to fully understand their lease amendments and modifications offers and to effectively evaluate negotiation leverage.
30 – 45 Minutes
Doug continues the discussion on oil and gas lease amendments, modifications, ratification and extensions. Doug discusses super leases such as the Friendsville gas lease and the Wyoming County Landowner Group gas lease and minimum well drilling obligations. Doug explains the impact of gas leases that require the gas companies to drill multiple horizontal wells under the terms of the lease. Why companies want to amend gas leases to avoid minimum well obligations in today’s declining gas price market. It is very important that Landowners understand what is being requested in amendments and modification and the overall impact and lasting effects of such agreements. It is critical that every landowner access their situation on an individual basis.
45 – 60 Minutes
Doug continues to explain relevant factors to weigh when considering making amendments or modifications to your existing gas lease. Doug rattles off a laundry list of considerations for landowners when facing modifications to their lease. Doug explains why every situation is unique and how each individual should obtain individual advice. A bad decision can cost landowners thousand, tens of thousands or even millions of dollars. Do not repeat mistakes made by others and understand your options.