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Permalink Reply by Clinton44 on April 19, 2012 at 10:51am

When they sell or flip leases the must file the reassignments in the county courthouses where the land that is leased is located.

Whether or not they have to tell you depends on the language in your individual lease.

Most leases do not have such language, and there are many leases reassigned traded etc. in joint venture deals between drilling companies most people never know until they receive royalty checks from a different company.

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Permalink Reply by Kathleen on April 19, 2012 at 12:44pm

I really don't fully understand what he did. He borrowed over a billion dollars using his well shares as collateral to buy more of these well shares? Is that part right? If so than wouldn't he be betting these wells would be successful( I never saw what area the wells are in) but if so isn't that also insider trading since he knows the true production numbers. I know I don't have this right. If someone could explain what he did in plain English (maybe it already is but my brain just can't process it yet.)
also if these wells turn bad than he just walks away since the collateral is no longer a valued asset? Which would mean he just gets a really bad fico score since it would be one huge default? In my lease it states if my lease is sold to any third party they have to notify me. This excludes any transfer of the lease to a joint venture party of Chesapeake and from reading the news often enough I know they are almost starting a collection of JV partners lately.
Many leases I've read did not have that language and of course the standard lease does not.

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