Replies to This Discussion

Permalink Reply by Milkman on May 29, 2012 at 7:07pm

Yes this is true. I had a contract from CHK and was getting it reviewed, I then recieved a call from the landman and they said they were pulling any contracts that were not signed and notarized the day prior. I contacted the attorney who was looking at it and they said I was the 3rd one that morning to tell them that. According to the land man there are about 150 calls they had to make.

Permalink Reply by Marcus Grayson on May 29, 2012 at 10:44pm

This shouldn't come as a shock to anyone.  They have well over 1,000,000 acres that they are looking to develop and they're dead broke.  The leasing boom had to end some time.

Permalink Reply by Milkman on May 30, 2012 at 12:01pm

CHK or someone else (BP or Exxon) will be back. It's just a matter of time. CHK just needs to get thier wells producing and build up capital. The leasing isn't over yet.

Permalink Reply by JDM on May 30, 2012 at 2:36pm

I was told the exact same thing. Someone mentioned to me that Hilcorp is still leasing in Mahoning County.

Permalink Reply by Marcus Grayson on May 30, 2012 at 3:27pm

Halcon is in the area as well.  Now maybe the people of Mahoning county will have a better choice rather than being stuck with either CHK or nobody.  Competition is good for landowners.

Permalink Reply by Springfield Bob on June 2, 2012 at 12:30pm

Chesapeake assigned approximately 2500 leases to Total USA, according to the County Recorders office. Assignment was files May 2 2012. I have no idea of the acreage involved.

Permalink Reply by Marcus Grayson on June 2, 2012 at 11:30pm

That was from their JV deal.  They did that in all of the counties that fell into their AMI.

Permalink Reply by Springfield Bob on June 3, 2012 at 11:12am

I am a small (1ac) landowner in a 13 parcel subdivision  in Springfield Twp and I am trying to understand why landmen would be interested in my mineral rights. A few of the parcels in my subdivision have been leased (in Feb 2012) by CHK. But finding someone to lease other lots is proving difficult now.

I decided to see if I could determine if the parcels adjoining my subdivision were leased. That's when I found the assigment from Chesapeake to Total that identifies thousands of Mahonng County Leases by Tax ID Parcel numbers, names, townships etc.

I'm a newbie at this, so I've got lots of questions:

Would it be reasonably safe to assume that all the Mahoning county Chesapeake leases were assigned to Total?  If so that would make the assignment document (all 181 pages) a comprehensive list of Chesapeake holds (at least as of Jan 1 2012).

My second question relates to understanding what the 640 acres drilling unit means. I see that the Shell (Barth well) in Springfield is on a 120 acres site but ODNR says that the unit is 94 acres. So where does the 640 acre issue come into play.

Any help or guidance for this rank amateur would be appreciated

 

 

 

Permalink Reply by Marcus Grayson on June 3, 2012 at 9:17pm

Total gets a 25% stake in all CHK leases within the AMI.  Total is responsible for 75% of the operating costs.  CHK holds the majority stake and will be listed as the operator.