Replies to This Discussion

Permalink Reply by Brad on October 19, 2015 at 5:56am

Nothing yet.  Yes, the lease does pay 2K for the 3 year extension.  We negotiated a 640 unit size.....wouldn't be surprised if they tried to get us to go 1280.  It will not bother me too much if Chesapeake doesn't renew.....sounds like there are some better companies to deal with.  We will see in the next 2 - 3 weeks.

• ▶ Reply

Permalink Reply by DJ on October 19, 2015 at 6:00am

Thanks so much.  Our full 8 years with them is up in March. I need to review my contract to be sure they cannot renew it without my consent.  We are pretty close to you on the county line as well.

• ▶ Reply

Permalink Reply by Jim Lawrence on July 28, 2015 at 9:53am

Judy I presume that you are HBP, held by production. This is why you get the royalty from everflo or whomever. Your lease is with them. They subleased the deep rights to chesapeake and paid, you were not.  If chesapeake drills and you are part of the unit then you will receive royalties from them as well as whom you are receiving royalties from now. 

In essence you will get 2 royalty checks.

• ▶ Reply

Permalink Reply by JUDY GRIFFITHS on July 28, 2015 at 10:02am

Thanks Jim,
Really confusing, when one co.just sells rights. Back in the 70's when this started around here, we were not very wise and were taken advantage of. We were not even told that they were buying deep rights too. Not written as such in contract, which was never renewed, only small checks two or three times a year. Were not paid much either. Hopefully Chesapeake will eventually drill or sell to Halcon. (What is HBP)?

• ▶ Reply

Permalink Reply by Jim Lawrence on July 28, 2015 at 10:05am

You are not alone. If depth is not specified in the lease then it is implied "to the center of the earth". Most of the leases

• ▶ Reply

• ‹ Previous
• 1
• 2
• 3
• Next ›
• Page