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Permalink Reply by bo boboski on November 6, 2013 at 10:57am

Remember; that Oil & gas down there belongs to the landowner. If someone wants to drill for & transport it to a buyer, the landowner should get their fair share, whatever that amounts to. to the GasCo's, evidently nmot much!

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Permalink Reply by Paul Gildea on November 7, 2013 at 10:17am

I had a lease with Chesapeake for five years, renewable for five more years for the same amount as the first five. When the first five years expired I waited four months for payment on the second five years, when I didn't hear from Chesapeake I contacted the court house in Montrose only to find out that the lease had been transferred to southwestern, so I contacted southwestern and was told that they were not going to drill in the northeast. They notified me by email that they were letting the lease expire.

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Permalink Reply by Chip Snyder on November 7, 2013 at 10:59am

Paul, The Ararat area is more than likely going to be developed by Cabot. You may still get a lease in the future.
Good luck,
Chip

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Permalink Reply by Ty Hansen on November 8, 2013 at 2:30pm

Has anyone heard any news in regards to new leases being signed in the Union Dale, Herrick Center or surrounding areas? I've heard more than a few times that Cabot is the main company in the area. Thanks for any input.

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Permalink Reply by Summer Johnston on November 9, 2013 at 2:36am

It seems to me that if a company is offering nothing to lease the ground--tying it up--and 15% of potential royalties, there's really nothing in it to derisk the landowner who agrees to encumber the ground. Agreeing to renew the lease for nothing, as I see it anyhow, has nothing in it for the landowner and may actually be detrimental if some other company sees value in it.

 

 

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