Replies to This Discussion

Permalink Reply by Allen Voshall on February 3, 2011 at 2:35pm

Hello,

I have just been offered $500 for 5 (in Stark) and they have the right to renew for 5 more for another equal payment.

This was the first offer, and I wasn't told they they were about to move on.

But thanks for your info, as I was thinking it might be foolish to accept the first offer.

Where did you hear of $1500 for 5 years in Stark?

Feel free to contact me. 

allinv at hotmail

Permalink Reply by james r smucker on February 4, 2011 at 12:42am

I have heard it from multiple sources,including the guy from Chesepeake.Columbiana County got as high as 2200 for 5 years.They got a coalition of landowners together to make it happen.

Permalink Reply by Allen Voshall on February 4, 2011 at 6:58am

Thanks for the reply,

Do you have any contact info for Sierra?

 

Permalink Reply by james r smucker on February 5, 2011 at 1:18am

no,I'm told they buy leases to resell to Chesepeake.

Permalink Reply by Campbells Farm on February 15, 2011 at 7:56am

Hi.  In Nimishillen Twp with just over 5 acres.  Talked to other landowners as we negotiated.  First offer from Chesapeake was $750 for 5 yr. lease and $1250 for 10 yrs.  We got $1,000 for 5 yrs. and my neighbor got $1500 for 10 yrs.  We both bumped them up by $250.  Chesapeake claims they are about done with Stark and will be moving on, which I tend to believe considering the leases already recorded and the existing leases that have been in place for regular Clinton wells for about 40 years.  A HUGE portion of the county falls under existing leases that will be purchased or sub-leased by those companies to Chesapeake.   Thousands have already been sold to other holders since 2008.  This can all be checked at the recorder's office. 

Permalink Reply by David Mohn on February 22, 2011 at 12:38pm

I too am in Nimishillen Twp and I signed with Chesapeake back in the middle of Nov.  I have rec'd my bonus checks too.  My daughter who just purchased a house next to the farm signed today with CHK.  When talking to the land agent today, he also said CHK is basically done in Stark County and moving more into Portage County now.  He did say they are still signing a few more leases here in Stark that they have been working on, but the main goal now is to work in Portage.  He stated that CHK has over 100 agents here in the area but didn't say they were all in Portage county.  He also stated that CHK has purchased almost all of the deep well rights from property that has already been held by production.  It looks like this area might be very busy in the next few years. 

Permalink Reply by Allen Voshall on February 7, 2011 at 12:04pm

OK,

My second offer (negotiated) is the same as you are saying.  I'm also getting a few other enhancements to the storage and surface terms, as well as the royalties.

Thanks so much for sharing your info (everyone), I know people who accepted the first offer.

Permalink Reply by jeannie on February 7, 2011 at 3:16pm

Did you ever get to contact Sierra or Reserve Energy? We were told Chesepeake wouldn't sign anyone for over $1.000 an acre In Stark county for 5 yrs. was that not true?? They (Chesapeake) said $1500 for 10 yrs. but no more than $1,000 for 5.

Thank you

Permalink Reply by Allen Voshall on February 7, 2011 at 4:52pm

I never got contact info for Sierra.  They may just be an agent for Chesapeake.

I would be happy to talk to Reserve, do you have contact info?

I am in Pike twp, and was told by CHK the max is $750 for 5 or $1000 for 10.

Just like James' offer at the top of this page. 

Of course it's only my second offer, so who knows.

Your offer is obviously better than mine.

Can you tell me where in Stark you are at?

I haven't signed yet, and I'm ALL EARS!!

THANKS for sharing.

Permalink Reply by jeannie on February 7, 2011 at 5:09pm

We are in Osnaburg township. East Canton. I no longer have the phone number for Reserve as I said they let the ball drop and we did go with Chesapeake (hope we did the right thing) However I originally got Reserves phone number just by going to Reserve Energy's website. They are in Ohio. We were also told that Chesapeake was wrapping it up here in Stark and going North. Not sure if that is true, but they told us that several times. Good luck and I would love to hear what if anything Reserve offers you.

Permalink Reply by Allen Voshall on February 7, 2011 at 5:17pm

Thanks, that's pretty close to me.

So I take it then that you already signed for 10 yrs for $1500? 

Thanks.

Permalink Reply by jeannie on February 8, 2011 at 6:52am

No we went with the 5 yr. $1000 To chicken to sign for 10

 

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