I have a 5 year lease with the option to renew for a another 3 years with Chesapeake due to expire on 10/9/2015. I just received a card yesterday from the mail man stating that I have a certified letter from Chesapeake waiting at the post office. Any ideas what it may be about? Possibly a check to renew the lease?
Only way to know for sure is to pick up the letter.
If it is a renewal notice, not accepting the letter will not prevent the renewal from taking effect.
Could also be a re-lease of lease.
Just wondering if anyone else received one of these letters?
I havent picked up the letter yet. I only received a card saying that the letter is at the post office. I cant get it until tomorrow. Just thought maybe someone else already received and read their letter and could let me know what it is all about. I was in on a mass signing so other leases should be expiring at this same time.
please let us know what it is about .....have a lease ready to renew in the next 6 months
I received one last week and went in to post office and it was my check. Got it 2 days before expiration
Chesapeake Certified Letter Possibilities:
1. A Division Order for a unit that you are in due to a lateral over in the next county.
2. Your deed has a problem that the office folks missed until now.
3. You have been over paid a royalty that you must repay even though you are not yet under production.
4. You have an insider letter that says you will be paid 100% of the royalty you are due per your lease, while your neighbors get the 10% of agreed royalty deal like the rest of the country.
5. You have been invited to Oklahoma City for Chesapeake's ceo's surprise birthday party and golf outing.
6. You were accidentally sent the gov's Chesapeake Bucks for 2016 drilling royalty underpayment.
7. Chesapeake wants you to cash a $20,000 un-watermarked check then wire them $1,000 in cash, you get to keep the difference.
8. The Chesapeake office folks in OK want you to buy them Ohio Lottery tickets for the upcoming Christmas gift exchange & Holiday Party.
9. You get a check for $1 for Natural Gas Liquids and are declared the winner of the NGL Royalty Challenge for being the only person in Ohio to be paid a royalty for NGLs.
10.You have a check to renew for 3 more years, whether you like it or not.
Also, It would be great if contributors would let us know their counties when posting and if we could make it a habit of letting each other know whether our leases are renewed. One of our leases expires with Chesapeake next June. We'll let everyone know what happens. Chesapeake has earned itself a two-year extension on parcels that were in a separate contract by clipping 400 square feet of our northeast corner to include it in a drilling unit. That said, thank God we have a Pugh Clause that prevents them from perpetuating the lease unless they include a minimum of 60% of the leased land in a/the unit prior to expiration of the lease period. Since they included just twelve one-thousandths of an acre in the unit, we're good on that score, unlike many other landowners whose contracts contain no Pugh Clause.
Why would you even start a discussion like this when you can go get the mail then you'll know. Sheesh! really! you expect someone with a crystal ball to tell you what's in that letter. What a waste of time.
Joe, sorry to waste your time
So now you know what's going on (or not going on). Tell me, what have you learned from that?