Chesapeake reached a new low this month- I had to pay them to steal my gas.

832151-ALDERFER 2H                           STATE: PA     COUNTY: BRADFORD    LEGAL: 595.857137 ACRES; LITCHFIELD T

  515  2   1.374      2  01  14427.08   .00  -45.95 FL    19872.72     .00261162   37.68     51.78     .00      -.12      51.90   
  515  2   0.000      2  01          .00    .00       .00 GA           .00     .00261162       .00         .00     .00   53.73     -53.73

  515  2   0.000      2  01          .00    .00       .00 CP            .00     .00261162      .00         .00     .00       .54        -.54

  515  2   0.000      2  01          .00    .00       .00 TX            .00     .00261162       .00         .00     .00    20.61    -20.61

                                                                                                 LEASE TOTAL             51.78    0.00   74.76   -22.98



Amended Makayla, Manning NW, Harlan N, Lionetti, Feusner J, Morettz J and Wray M units.


https://dl.dropboxusercontent.com/u/31036030/Bradford%20Co%20units.kmz

Views: 809

Replies to This Discussion

We had a unit go negative also in Bradford County.

CHK was barely on the positive side, taking 52% deductions giving us 48%  We managed to get a few bucks for our gas but Statoil took 58% deductions and put us on the minus column. We owe Statoil for selling our gas or should I say for stealing our gas.

BobT

Whether you have a positive or negative dollar value, the companies are "stealing" your gas. Companies have figured out that instead of reducing executive salaries and compensation, placing the dollar burden on leaseholders is far easier. Leaseholders are the farthest from the purse strings and are the ones most likely to roll over and let it continue. Join a lawsuit. If the legal costs or settlements are too much to bear, the company will be sold and some of the decision makers will be looking for employment.

just a thought wayne....

read your lease and see if in order to hold your lease, they must have a well capable of "production in paying quantities". those, or words to that effect were in many marcellus leases.

obviously, they have not maintained that requirement. a certified letter demanding release of your lease should get their attention.

I'm assuming that your primary term has expired, and that your are held exclusively by production at this point.

jim

 Yes, I have that clause. Problem is the other 2 units are not yet negative although getting closer. All controlled by the same lease.

The oil/gas company will respond by producing documents showing they have permits to drill additional wells within the unit or that they have permits to re-frack an existing well. Those documents, they will argue, show an intent and ability to deliver a "payable royalty". In the meantime your "negative" balance will be applied to future payments. It is sort of like that song by Tenessee Ernie Ford,"I Owe My Soul to the Company Store".

If neither exist, then the letter gets their attention. Leaseholder discussions at the local level are so filtered as the move up the corporate chain that they are meaningless. Legal action is the only thing that garners a response and group leaseholder legal action even more. At this point we are becoming victims of grand larceny and my lease specifically prohibits the actions that they employ.

Unless this issue is resolved in favor of the leaseholders now, years and generations of leaseholders will be robbed. Negative balances will become a way of leaseholders footing the operations cost for gas companies. Imagine being approached by a collection agency for non payment of your outstanding bill from an energy company for a producing well unit.

 So that is the reason that they are renewing all the permits for additional wells on producing units?

 Also I have seen a lot of additional water withdrawal permits for producing units.

John

First of all, that song was entitled:  Sixteen Tons

I paid good money for that recording once.  Now you can hear it here on the net for free:

Hear "Sixteen Tons" here for free

Now regarding your collection agency mention:

I have never heard tell of Chesapeake, or any other gas company, using a collection agency to collect money owed by Lessors.  However, years ago Chesapeake did sue a group of Lessors it had overpaid, seeking immediate repayment of the overage.  The over payments in that instance were quite large.

Frank: I believe you have it correct about the song. I was depending on a blurred, distant memory. The collection agency reference was very dark humor with the possibility of reality.

I see our checks are dropping every month soon we are going to minus also, have been expecting this ever since I first read about it.  We are making about 12 dollars an acre right now, wont be long!

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