leases renewal

Does any one know if a lease renewal with CHK includes a lease payment?  We have a lease with CHK and it is now 5 years.  The lease has an automatic renewal.  I am wondering this includes an additional payment or has anyone received a new lease payment?

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Replies to This Discussion

Permalink Reply by Mike Sero on October 1, 2015 at 10:54am

Depending on the lease, you need to read the specifics - but before it is renewed you need to receive a check to make it valid. Even if they renew it in courthouse it is not valid until you have check.

If the terms are not met you need to send a letter to CHK and tell them you want a release from the lease.

Permalink Reply by Keith Rouse on October 1, 2015 at 10:57am

We have been getting royalties as there is a well...but CHK has no cash from what I understand.

Permalink Reply by Mike Sero on October 1, 2015 at 11:07am

Oh, if your getting royalties then you are held by production - you will not receive anymore lease payments.

Permalink Reply by Keith Rouse on October 1, 2015 at 11:09am

Thank you!

royalties have been very small recently 

Permalink Reply by Mike Sero on October 1, 2015 at 11:15am

Gas is at 2.52 now so not making much money for anyone.

Permalink Reply by Keith Rouse on October 1, 2015 at 11:19am

Hope it comes back soon

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