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Judge Voids 21,000 Acres of Leases

Exxon subsidiary got drilling rights from Beck in 2011

February 16, 2013

WOODSFIELD — Pending a court appeal, about 21,000 acres worth of Monroe County leases assigned to oil and natural giant Exxon Mobil in late 2011 are now invalid....

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(23)

Truthout

Feb-18-13 9:03 AM

The reporter obviously didn't read the decison and paraphrased an another erroneous article published in the Columbus paper in July when the decison was rendered. The decison was only ruling on one lease and the case was never certified as a class action.

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daWraith

Feb-17-13 7:05 PM

The gas companies are starting initial exploration in the state of Michigan. Nothing significant to date, but the county of Oakland has signed a lease on about 1000 acres..... for about $50 an acre, this in 2012!

So are they are being "abused" by big gas in 2012??

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Triton

Feb-17-13 3:42 PM

The case will be appealed and that is where the real action will happen. Hometome judges render hometown verdicts knowing that an appeals court will apply the law. We see that a lot around here. But the good might come from the energy companies deciding to make a deal and give some money to the landowners, and of course the lawyers. That would be great but when you read the posts you see that a lot of people think that everyone should get a do-over if they sign a contract and then someone makes money from what they sold. Thats not very realistic and there is a pretty good chance that the people who bought years ago were speculating and did not make money until they held the rights for a decade and they cashed in. I cannot work up much sympathy for peole who make deals (without advice and really on greed at the time) and then want to get a piece of the action from what they sold before. Appeals court might uphold the contracts. Should be smarter.

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WVEXPAT

Feb-17-13 10:08 AM

So the production lines in the U.S. are idle while the company produces batteries in Korea!

what a surprise!

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WVEXPAT

Feb-17-13 9:53 AM

From Bloomberg, "Part of $142 million in U.S. Energy Department grant money given to a South Korean battery maker paid Michigan factory workers as they spent hours playing board games and watching movies, according to an agency report."

By all means, let's increase our investments (i.e. your tax $) in green energy!

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WVEXPAT

Feb-17-13 9:50 AM

"we give them billions is welfare"

If you want to look at wasted billions, look no further than this administrations "green" energy giveaways. From CBS News, "CBS News counted 12 clean energy companies that are having trouble after collectively being approved for more than $6.5 billion in federal assistance. Five have filed for bankruptcy: The junk bond-rated Beacon, Evergreen Solar, SpectraWatt, AES' subsidiary Eastern Energy and Solyndra.

Others are also struggling with potential problems. Nevada Geothermal -- a home state project personally endorsed by Senate Majority Leader Harry Reid -- warns of multiple potential defaults in new SEC filings reviewed by CBS News. It was already having trouble paying the bills when it received $98.5 million in Energy Department loan guarantees."

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LogHog

Feb-17-13 8:38 AM

mouse...the moral of the story is...there are no morals...was there ever? well, it seems that there was..at least honor...but that is gone now too...it went by way of the lawyers...it seems that almost no one is trust worthy any more and all are out for all they can get in any manner that they can get it...my family used to have thousands of acres that they sold to "cheap" to the Wayne National Forest. Maybe we can sue to get the oil/gas rights back, since it's worth so much more today...was sold about 20yrs. ago

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TheMouse

Feb-17-13 7:53 AM

It seems to me that a lot of you all are missing something here. The article reads that the leases were "signed from 2001 to 2006, with the oldest dating back to 1989". Well, at that time most all of us knew nothing of Marcellus or Utica shale gas and fracking. But I'll bet the entities buying those cheap leases did. Is that illegal? Nope. But is it unfair and immoral? *****yes. This is a good example of capitalism run amok. And right wing conservatives want to preach morales to left wing loonies? What's up with that? But wait! Some of these posts may have been written by psychopathic human-like corporation that have no morales. No one anymore wants to do just what's best for the good ol' Unites States. Consequently, She's floundering. The end is near - of this post, that is.

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SpankysLastDance

Feb-16-13 9:07 PM

That's so sweet,they get a second chance at becoming wealthy. I signed a contract to buy a car in 1988, when I drove it off the lot, it was only worth half what I paid for it. Then I had to pay interest on it for five years. Turns out, I paid three times the original price, then after five years it was only worth a quarter of it's original value. Please Judge, can help me?Please,PLEASE!!!!

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hounddog

Feb-16-13 9:06 PM

you have to own it before you can sale it i hope he has to pay every penny back an then some

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LogHog

Feb-16-13 8:48 PM

If these landowners can get out of it because they sold for an undervalued amount, shouldn't the American people be able to get out of having such an under valued president as Obama? I mean there are so many other people that would be better for the job..you know for the greater good of the country..

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WVEXPAT

Feb-16-13 8:15 PM

Hoopie was proudly part of the "grass roots" Obama ground game last election. Obviously the many low information voters believed the lies like she posted here.

Exxon pays more in taxes than the vast majority of American citizens. And there is NO welfare for oil companies. There is approx a $4 billion tax incentive for drilling, R&D and equipment investments for an industry that generates over $1000 billion in sales (Google 2010 Census Table 939. Petroleum and Coal Products Corporations—Sales, Net Profit, and Profit Per Dollar of Sales: 1990 to 2010). However Obama and minions like Hoopie continue to spout non stop lies to "forward" the progressive agenda.

All the while the Unions Hoopie represents get ObamaCare exemptions on their "Cadillac" insurance programs thru 2018. You have to admit it's quite the effective strategy! Divert attention to those evil corporations while Union cronies get subsidized by hard working Americans!!!

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TheRealityPolice

Feb-16-13 4:45 PM

Hey HOOPIE! "While taxes rose for most Americans at the beginning of year, some big companies apparently paid no income taxes at all, according to a recent report.Facebook paid no net corporate income taxes in the U.S. last year, according to a new report from Citizens for Tax Justice, a left-leaning research and advocacy group. Instead, Facebook will rake in $429 million in net tax refunds for the year, the report said, citing Facebook's recent annual financial report. The company earned $1.1 billion in U.S. corporate profits last year."

So one of the liberals' darlings got off scott free too, you hypocrit.

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daWraith

Feb-16-13 3:43 PM

Displaced, yeah Opies' Halliburton, lil ol Generous Electric?

The Green company that closed it plants and sent 12,000 jobs to China since Opie appointed Jeffrey Immelt to his board?

Yeah, think you are correct.

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Truthout

Feb-16-13 1:17 PM

How is this front page news when the decison came out July 12, 2012. To read the article one would think it was last week. The decison will never hold up or it would make every oil and gas leases in Ohio invalid.

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DisplacedWVian

Feb-16-13 1:11 PM

Wraith, I think that Hoopie is mistaking Exxon with GE..... you know, the presidents pals who paid no income tax on almost $15 Billion in profits in 2010.....

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daWraith

Feb-16-13 12:42 PM

Note that liberals can never make a point on the facts, just their stereotypical made up bulls**t.

Hoopie JUST KNOWS that Exxon doesn't pay any taxes because one of his drunka&& fool friends done told him so.

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daWraith

Feb-16-13 12:39 PM

wvhoopie is a lying sack of valley excrement as usual:

AOL 2/7/2013

"In their dogged pursuit of sensational headlines, media companies love to make a big deal about the largest US company by market capitalization, a title that ExxonMobil and Apple have traded for the past few years. Exxon recently reported its fourth quarter and full-year 2012 financials and on net income of roughly $45 billion last year, which is slightly higher than Apple's approximately $42 billion, the oil company paid about TWICE as much in income taxes.

Exxon paid about $31 billion in "income taxes" and Apple paid about $14 billion in what it reports as "provision for income taxes."

RETRACT YOUR STATEMENT, LIAR!

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richardwhee

Feb-16-13 12:19 PM

To ALL-- This is the USA and thats the way things work. Call it what you like- a rip off by Corps. or people crying for more.

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TheRealityPolice

Feb-16-13 12:19 PM

Well they won't get new leases. XTO is not budgeting for ANY new leasing money in 2013. Sometimes a bird in the hand is worth two in the bush.

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wvhoopie

Feb-16-13 10:54 AM

what a surprise! Corporations ripping off Americans! Exxon pays zero taxes, earns billions in profit and we give them billions is welfare every year! Close the loopholes and nail these ********!

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tdolan

Feb-16-13 6:35 AM

they only complained when they found out others were getting more, can you take car back if your buddy bought same 1 cheaper some where else , housing prices have fallen and my piggy bank to keep up with the Jones has run out, sue the banks?

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daWraith

Feb-16-13 6:11 AM

Yeah stick it to those evil big out of state corporations.

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