Many in Jefferson County entered into Lease Agreements near five years ago with no activity to date. I am not sure who holds these leases today if not CHX who has been experiencing financial issues. Has anyone been contacted for new lease agreements in anticipation of CHX not renewing their leases.
have u contacted CNX to see if they are renewing leases or if they still own the lease?
I have not contacted anyone and do not plan to until it expires on February 2, 2016. Since nothing has happened on the property, the Lessee has not "spiked" the original lease, but holds the right to renew after February 1, 2016 by payment of the original amount of $1500 per acre for an additional five years.
Or, I hold the right to negotiate a new lease (top lease) which then the current lease expires on Februay 2, 1916, then locate the current holder who has so many days to match. Not sure who that may be now. At this stage of the game, I feel it best to just sit and wait it out until February 2, 1916.
My original post this week was to see if anyone within the Wells Township Jefferson County area has heard anything since most of the original DPS Penn leases were negotiated after January 1, 2011 and will be expiring in 2016. DPS Penn was fronting for CHX back then, if my information was correct. Does anyone out there know who now holds their leases.
Thank you for your response Hunter. Will be interesting to see what happens between now and my expiration date of February 2, 2016. Do you have a contact point (company name, contact name, phone number, address) from your August communications with DPS Penn or whomever contacted you. Again, thanks for your communication. Like you, I have heard nothing since signing in 2011.
I understand there are some out there looking to make a "top lease" offer above the amount negotiated five years back with DPS Penn that may cause DPS Penn to match or beat. Has anyone heard of this happening???
Sorry for coming back to you; Hunter,...not wanting to beat this to death, but who sent the certified mailing, DPS Pen or some successor company who I am wanting to learn about. Is DPS Penn still the entity holding the leases??? Thank you.