got a letter from chesapeake

they want to amend my contract for unit size from 640 acres to 1200 acres for a consideration of $10.also total in named in contract.property is in nottingham twp.was wondering if anyone else recieved a letter and what are your thoughts.does this mean they are drilling close by?what are the pros and cons?any input will be appreciated! thanks all!

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Permalink Reply by Barbara on January 28, 2013 at 9:40am

We were advised to use this as a way to get a higher royalty, even just a slightly higher royalty would help in the end.  It turned out they decided to keep the smaller unit size so nothing changed but I thought it was worth mentioning. Our attorney has had success doing this for other clients and that is why he suggested it to us.    Good Luck! 

Permalink Reply by ray schmidt on January 28, 2013 at 10:36am

thanks everyone for your input! i guess there is alot to consider.they have 3 years and a couple months left till contract expires,so maybe they are drilling soon and just want bigger unit to be hbp.the pipeline they are installing is about a quarter mile from my property.think i will talk to a lawyer soon to see if maybe he might have some insight as to why they want this now,,when they have so much time before contract is up.to answer a previous question the contract states unit size not to exceed 640 acres they want to change to 1280.again thanks for the input!this site is very helpful!!!

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