Chesapeake transfer of leases to Jamestown Resources

Does anyone know why Chesapeake would be transferring so many leases to Jamestown Resources.

This is happening in the Marcellus Shale areas of Northeast PA.

Thank you.

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Permalink Reply by Alan Bowers on November 10, 2014 at 9:15pm

Jason,

Ron does have the better path to take.

It may surprise you to learn that causing damage to a well and/or a pipeline gets you branded as a Domestic Terrorist and put on a Terrorist Watch List.

And, when they prosecute the charges carry much stiffer penalties.

The O & G guys have a lot of money invested and won't think twice about pushing to make an example of those that they catch.

Permalink Reply by John Harrison on November 9, 2014 at 12:44pm

Jamestown Resources along with Larchmont Resources and Pelican Energy are all Aubrey McCleandon's companies holding his 2.5% of CHK wells from the Founder's Well Participation Program. Talk about a gift that keeps on giving, even though Aubrey is long gone the FWPP kept going until June 30, 2014.  Interestingly Landex shows in Bradford County, PA (NE PA) about 100 lease assignments a day since June 30 with no signs of letting up.  Also interesting is that he gets 2.5% of the well so that means in places like Bradford County where CHK has sold 2/3 of their interest to other companies, they, CHK, have to assign about 8% of their remaining interest so that Aubrey gets his 2.5%.  Obviously the other companies have no interest in giving anything to Aubrey so it is all on CHK.

According to the lease assignment documents, these companies are responsible for 2.5% of the royalty payment to the landowners.  No landowner has yet received a check from any of these companies to my knowledge.  Supposedly CHK pays that share.  I would love to see the Feds, the state DA's and the various lawyers suing CHK take a good long look at how CHK is handling this payment to the landowners. 

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on November 9, 2014 at 6:38pm

Below Story was in the Upstream Magazine online.

Operator's sale backed by market

 24 October 2014 00:00 GMT

Chesapeake Energy’s deal to sell its huge position in the eastern Utica and southwestern Marcellus plays in the US to Southwestern Energy resolves a major issue for the asset-rich but cash-poor US independent by bringing in top dollar for an asset that the company said was never given much value by the market, writes NoahBrenner.

Permalink Reply by Joseph-Ohio on November 9, 2014 at 7:05pm
Ron H.,

Do you think Southwestern Energy will get involved (or maybe has already gotten involved) by purchasing (or having already purchased) CHK leaseholds in northeast Ohio ?
0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on November 13, 2014 at 7:29pm

Joseph,

   All I know is what is in the article above, maybe someone in the know could comment on this question.

If the northern counties have electronic records in the court house you could do a search on Chesapeake Energy and Southwestern Energy and see what kind of documents are being recorded.

I've been looking into the Chesapeake/Department Of Justice info Keith added last week.

I may have gotten a phone call and can neither deny or confirm the above is taking place.

If there was activity on the above, they don't need our royalty statements.

I left a tip with the person who  may or may not have called me, the news is out to the public already.

I want to be very careful not to get in the way of justice, especially a rare justice which may or may not be aimed at a lawless corporation.

Just can't help but vent when the opportunity arises. Did I ever tell you I hate to be stolen from?  Sure I did!

Permalink Reply by Joseph-Ohio on November 13, 2014 at 10:41pm
In matters of justice and a lawless corporation; thinking people also would wonder what happens to things like leases, sales agreements, gas and oil well development etc.

I like to think of myself as a thinking person and hope other folks think of me in that manner as well.

Good luck to you Ron H. and all of us - I believe we all need it.
Permalink Reply by Joseph-Ohio on November 14, 2014 at 8:02am

http://oilpro.com/post/7849/chk-sells-538bn-marcellusutica-assets-t...

Found a cached copy of another article by another reference which writes of certain details of the sale of assets by CHK to Southwestern Energy (which you have referenced in your replies Ron H.). 

If anyone wishes to they can take the link above and can read also.

Reads to me like CHK did not sell any of it's Northern Utica assets in eastern Ohio and spoke of selling Southern Marcellus (in Southern Pennsylvania) and Eastern Utica in (Northern West Virginia).

Permalink Reply by DONNA M SELLERS on November 14, 2014 at 8:19am

I have a close friend who has 8 producing wells, on 150 acres in Wetzel Co. Wv. These have been in production for over 3 years now. With CHK. I know exactly what she has been getting royalties wise, her % etc etc. now they are the leases just sold to Southwestern Energy. It will be very interesting to see what this turn of events has on her (paperwork) sheets production etc etc.....

Permalink Reply by DONNA M SELLERS on November 14, 2014 at 8:52am

LOL Speak for your self Jesse....

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