Replies to This Discussion

Permalink Reply by Dan on December 26, 2015 at 4:45am

Yes, we just got one too, in Rumley township. I figured they are still planning to drill the unit and want to make sure ahead of time that they still have the lease rights.

Permalink Reply by ray schmidt on December 26, 2015 at 6:45am

glad to hear.did you have alov lease too? never heard of a gas co payin so early.good news for future..they will be drilling within 3 years...

Permalink Reply by w. k. chirpas on December 27, 2015 at 6:05am

Could the restructuring of CHK's debt be motivating these early renewals and not actual plans to drill?  Any thoughts?

Permalink Reply by ray schmidt on December 27, 2015 at 10:16am

maybe both.reguardless,extended for 3 years and no other extensions,so i think they will drill.otherwise they are throwing good money after bad. this brings our sign on bonus closer to what they were giving a few months later.

Permalink Reply by Booger on December 30, 2015 at 6:15am

also got renewed early..........got check last week

Permalink Reply by w. k. chirpas on December 30, 2015 at 6:27am

What township are you in?   Do you have large acreage ? 

Permalink Reply by Booger on January 4, 2016 at 4:54am

stock.....yes

Permalink Reply by ray schmidt on January 4, 2016 at 7:26am

just talked to rep. from chesapeake,he said they had money left over for 2015, so they renewed some leases early.guess ill have to wait till april

Permalink Reply by ray schmidt on January 30, 2016 at 6:03am

Received renewal check yesterday.its dated dec 18.does anyone know if i claim on 2015 taxes or 2016?

Permalink Reply by w. k. chirpas on January 30, 2016 at 6:46am

  Hi Ray,

What township are you?

As far as taxes I had  a similar situation once with stock.  The term the IRS used at the time was "constructive use".  Much like working the last two weeks of the year and not receiving the money until payday the following year. The money is not taxable until you can use it. 

You might be able to go either way, But it would be best to check with an accountant.  Can you prove that you did not receive it until now? 

Good Luck

Permalink Reply by ray schmidt on January 30, 2016 at 7:39am

hello, im in nottingham township..it was certified letter i picked up at post office,so it should be easy to prove. date on letter

Permalink Reply by w. k. chirpas on January 30, 2016 at 8:22am

hi Ray,

When was your lease due for renewal?

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