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?
Joe Bezel let us know if you get renewed with all that activity they should be able to HBP your lease......don't count your chickens before they hatch .........hope u see a check.....good luck
They did seismic testing here a few years ago and to tell you the truth I thought they would try use that activiity to hold the lease without another bonus.
Thanks Mike, I will. Should get the check in the next two weeks, if I get one. Most of the leases expiring now in this area were signed in the $1,000/acre range. I suspect they will examine the $6,000/acre leases more carefully before renewing them, with an eye to HBP.
Just received my renewal check from CHK. It was for a full five years. I never expected to see it!
Where is your property Joe?? That's interesting and great news
Green twp, Harrison County, OH
Good news, indeed!
Congratulations, Joe ! Wonderful News !
OUR LEASE WAS UP IN JULY, HAVE GOT NOTHING FROM CHESAPEAKE WITH OFFER WE LIVE IN EAST CADIZ
I would suggest you contact Chesapeake and ask them to release you. Then, if they're sitting on the fence about it, they'll renew. If they're not fence-sitting, they'll release you and you'll be able to sign a new lease with a new party (or with them) when the time comes in the future.
Just a thought: Chesapeake is conducting seismic testing in Jefferson County this Autumn. My guess is that they will renew or not renew leases for those of us in Jefferson County whose leases expire within the next year to three years based on the geophysical survey results.