Complaints

• Initial Complaint

  09/13/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  After I received a solicitation in the mail from PennMarc offering 17,000 dollars for mineral/ gas and oil rights currently held through Ranger Resources. I responded and after signing a release information, was told my ownership was so small it would actually be 998.00. I told Mr. Robert ****** that I was confused about my current ownership as two of my relatives were recently deceased and I was receiving more information from Ranger Resources asking for my signature regarding additional division interest. He encouraged me to sign a Docusign sales agreement that was confusing. He then sent a deed to be signed and he had changed the purchaser to an **** ****** ***. I was concerned about the wording of the deed and what exactly this new entity was entitled to and said I did not want to sign it. He said I legally had to based on the Docusign agreement. I have not yet done so. When trying to find more information about PennMarc and The LLC I have found multiple physical addresses and the LLC shares them. When I looked up the addresses they were held by OTHER non-related businesses. My correspondence and signed deed are to be sent to a PO Box held by both PennMarc and the J***** **** I am concerned that I am being scammed. I have not been able to find the members or named organizer of that LLC. I do not want to sign and return the deed as directed by Mr. L******

  Business response

  09/14/2022

  Complaint ID: ********
  Response by PennMarc Resources LP
  
  We started communication with *** ******** on June 13, 2022. We mailed *** ******** an offer to
  purchase her very small fraction of oil and gas interests underlying a 2-acre tract of land in Washington
  County. On August 9, 2022, I sent an email to *** ******** with a very clear calculation of her ownership
  and our offer considering these findings and research. *** ******** responded “every little bit helps!
  Thank you again and kind regards from beautiful West Virginia.” It appears *** ******** has three (3)
  separate issues within complaint ** ********; 1.) confusion on the credited ownership 2.) an affiliate
  company on the closing documents 3.) and multiple addresses associated with our businesses. In response
  to these in order, first being confusion on ownership, *** ******** never expressed any confusion or
  questioned the credited ownership. The email sent on August 10, 2022, provided the calculations and her
  response certainly did not indicate any confusion. Regarding an affiliate company purchasing the
  interests, Paragraph 12 of the purchase sales agreement specifically reads, “this agreement shall extend
  to and be binding on the heirs, successors, executors, administrators, assigns and attorneys-in-fact of the
  respective parties hereto.” It is very standard in our course of business to acquire interests in various
  affiliate companies. Lastly, regarding address, although unsure how this impacts our agreement with *** ********* we have 2 physical locations; one located at ** ****** ****** ***** ***** ******* ** ***** and
  one located a* *** ** ****** ******* ******* ** ****** Both office locations have PO Boxes.

  Customer response

  09/14/2022

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********* and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
  In addition to misrepresentation, PennMarc did not have the correct ownership net acre number on the Docusign or Deed. It should have been .1667 net acres as per Ranger Resources. PennMarc has .1167 net acres. This mistake would result in me receiving about 500.00 less than I should receive. This is a large percentage of the purchase price as it is such a small acreage. It concerns me that such a significant mistake was made needless to say. I had repeated on several occasions that I was confused by my ownership and needed that clarification. 
  [To assist us in bringing this matter to a close, we would like to know your view on the matter.]
  
  Regards,
  
  ******* ********

  Business response

  09/16/2022

  Complaint ID: ********
  Response by PennMarc Resources LP
  
  Response #2
  9/16/2022
  
  1. Attached is the email we received from Range Resources on the credited interest of 0.1167
  acres.
  2. The DocuSign was executed with all terms attached. The time to ask and inquire on terms was
  prior to execution on August 9, 2022.
  3. Not relevant.
  4. The DocuSign was executed with all terms attached. The time to ask and inquire on terms was
  prior to execution on August 9, 2022.
  5. Not relevant.
  6. Not relevant.
  7. PennMarc will NOT void the contract. We will proceed under the original terms to purchase
  0.1167 acres for $991.95 or turn this over to our legal department for simply breach of contract.
  The response regarding size of the company, revenue, employees, & location is irrelevant in any
  real estate transaction and holds no significance. If you prefer to close in person, we can
  schedule that at our physical office location and have a notary on hand.
  PennMarc WILL offer to void the contract for payment of $500 by *** ******** via Money
  Order or Bank Check, payable to LPR Energy LLC, to cover our employees time and legal fees
  associated with the transaction.

  Customer response

  09/16/2022

  [A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
  
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********* and find that this resolution is satisfactory to me. 
  I understand that they have put time and effort into the process and will be sending them the 500.00 to cover their expenses and void the contract as noted in their response. Nonetheless, I have added the email regarding the net acreage showing my information from Ranger Resources. 
  Regards,
  
  ******* ********

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩