Lease is up this fall. 5 k/acre. Just curious, I know things are bleak for Chesapeake, but just wondering if anyone has any recent experience with lease getting renewed or not getting renewed?

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i am 7 miles north of salem..on calla rd.between rt.62 and rt.45..as for selling to another co..i dont know but when i talked to them they explained to me how to request the release..which will take up to 2 months for the corts and the co to sign off on..i was surprized since a pad is in place in our unit..no drilling..but allot of money to set up the operation..i believe another co. would pick it up since so much has been done ..and i believe if another co..has bought up the lease i would of received a check..so i believe its just chk is in trouble..look at the stock price..

 The courts would have no say in the release of a lease between a landowner and a Oil and Gas company and would not take two months to do. A simple termination of the lease agreement filed in the county recorder office would suffice. 

 However if the lease was reassigned to another company or was complicated by the O&G company using the lease as collateral upon a loan it may get complicated and if the company was in bankruptcy even more complicated.. All in my honest opinion.

For those landowners with a Pugh Clause as found in the ALOV and SURE leases. If Chesapeake was able to reach out and touch 1/2 acre of  your land from 1270 feet from a lateral, then call your lease under production, like they have done to several landowners you have an option. 

The Pugh Clause says that your Producer will have to pay you another bonus for the acres not under production, or you have the right to pull all acres not under production out of the lease.

I guess Chesapeake should have read the leases before reaching out great distances to try and keep those leases under their control. 

They're saying their fracks go out 1270 feet?  That's a lot more than anything I've ever seen anywhere.  My research turned up 300-400 feet at most.

I thought that was called "propagation of fracture", a term related with that concept, and directly corresponds to lateral spacing, unit sizing, etc.

I was made aware of CHK's progress as completion techniques progressed with time...I'd sure like to know what the latest implemented techniques are with regards to perforation clusters and numbers of stages. Any solid answers out there?

This is also very important info for those who can be candidates for refrack jobs.

Also, any info regarding"communication" between laterals would sure add to the excitement!

This is from Gulports investors conference call:

Michael G. Moore - President, Chief Executive Officer & Director

Okay. It's a good question, Ron. So really what we're doing here is trying to navigate as efficiently as we can through the capital constrained market. It obviously has nothing to do with well performance or type curves. And remember, all the scientific data that we had when we moved to 750-foot spacing indicated that the propped half-lengths were 330-foot, and that certainly seems to be evident in everything that we're seeing.

But what we're trying to do, with this plan, is hold as much acreage as we can with the levels of activity that we have scheduled for 2016. It's certainly not intended to be a permanent change to 1,000-foot spacing, but a temporary change in response to the commodity price environment that we're living in today. So we're trying to be as efficient as we can. We did do an extensive NPV model and find that it's NPV-neutral to us. But I guess to put it, to quantify it a little bit for you, in terms of 2016, it's going to save us about, probably $30 million, if that helps.http://seekingalpha.com/article/3907806-gulfport-energy-gpor-michae...

It kind of sounds like they are thinking of coming back and drilling between their horizontals later.  I had heard of some company (maybe Rice?) experimenting with horizontals that were drilled closer together than the norm and getting excellent production from that technique.  I wish I had a source I could cite on that, but I think it's something I picked up in conversation with a guy who invests with them.

It's crummy of them to hold property that's not actually producing, though.  They shouldn't be doing that to people.  It'll just make people far more cautious the next chance they get to lease.  

What stops them from turning the drill bit 90 degrees from the long single direction horizontals and reaching out between and perpendicular to them and then fracturing the strata that lies between them ?

Maybe that's what they're thinking / doing ?

Depends upon the regulator requirements. They don't drill willy-nilly here and yon.

They want to hold acreage with as few wells as possible and hope for better prices in the future.

I would not want renewed by them. 

Reading ya' loud and clear Lerret.

Many say on here that they don't honor their leases and make the lessor take them to court and settle.

If that's true who needs it ?

Not me and that's for sure.

Type Ohio Revised Code 5301.332 It explains how to release/cancel a O/G lease.

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