Has Anyone had any Good Experience with CHK
There is a lot of negativity surrounding Chesapeake's Royalty Payments and I was Curious as to whether anyone has had a good experience with them.
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Replies to This Discussion
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Permalink Reply by bo boboski on -
Looks like they are gonna keep doing what they are doing until the gubment does something about it. The lawsuits are not working.
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Permalink Reply by cj wyalusing on
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Bo why do you say they lawsuit s are not working do you have some info on that?
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Permalink Reply by bo boboski on
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I believe they are not working because regardless of how many people are suing them,they still keep doing it!. Those suits may take 2 years to come to court;if they ever do; then the outcome could go either way,. even if CHK.loses some of them, I believe they will continue. It will take a federal court with a hefty fine,or JAIL TIME to stop em! IMHO May be better to sell your minerals or royalties than to deal with them for 20 years.
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Permalink Reply by evan on
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I considered selling mine. kind of wish I would have , or at least half. Not wanting to deal with their mess .
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Permalink Reply by Donald on
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The only good expeirence I had wes leasing for 5850 an acr. lease is up in 18mos. hope they don't renew. I don't want to do anymore business with them. hope they go to russia.
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Permalink Reply by Magnetron12 on
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OKAY C'MON- LET'S HERE FROM THE SILENT MAJORITY OF FOLKS THAT ARE ECSTATIC WITH THEIR ROYALTY PAYMENTS.
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Permalink Reply by 0ym9x5ag7ury2 on
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Hello,
I filed a complaint with CHK and they ignored all the theft items except for one they could comment on and sent me a list of all of Buck Well 1H sales from Feb 2014 to Sept.
Guess what, I now have the evidence that CHK is selling all Oil, Gas, and NGLs to CEMI (Chesapeake Energy Marketing Inc). Does anyone have a lease that says they will accept a royalty on a Less Than Arms Length Sale, or free use of Gas at the well head? I thought not.
Like TX, OK, ND, PA, WV, NC, LA and anywhere else CHK is operating, we are all being stolen from.
How about we all notify our Atty Gnls and the US Atty Gnl.
The President needs to know that the Appalachian Counties that have been supported by federal dollars since 1960 are now being stolen from by CHK. If the landowners were to receive a FAIR & Real Royalty on products taken from their land, the Federal Gov could save money and end the support they have been providing for over 50 years.
For Ohioans, we need to notify the state government that the NGLs are not being taxed or documented so they are being "Lifted" from the state. Not too far into the future "We The People" of Ohio are going to be asked to pay taxes for infrastructure by paying a gasoline tax. Lets document and tax the NGLs to pay for the infrastructure. Is anyone home in Columbus?
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Permalink Reply by Frank Walker on
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Donald
Certainly hope for your sake you don't have one of those "park a bulldozer" leases. If you do, please don't count your chickens.
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Permalink Reply by Frank Walker on
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Many Lessors have done OK with Chesapeake. Signing with CHK is not an assured "death sentence". It's just that your probability of coming out OK with Chesapeake is lower than with most other companies.
Chesapeake has been toughest on Lessors with poor leases, including those with boilerplate leases. If circumstances dictate you must sign with Chesapeake, be uncommonly careful with your lease. It needs to be "air tight". Any lawyer representing you in a CHK leasing situation needs to be chosen with excruciating care. Every "i" must be dotted, every "t" must be crossed, and there can be no shortcuts taken in your lease in any regard.
All of that said, and speaking only for myself personally, I'd take a root canal over the prospect of signing with Chesapeake. Some things in life are just a really bad idea no matter what precautions you take.
But I realize some folks have no choice, which is why I wrote first as I did. If for whatever reason you simply must sign with them, with no other options, for goodness sake be ultra careful!!!
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Permalink Reply by wyalusing jim on
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I had choices, but I was surrounded by chk. knowing all of the bad about them, I decided to negotiate a lease with them. since then, I have had no regrets. all of the terms of my lease have been honored by them with no hassles. my royalties are much better than those who signed with other companies.
statoil however is another situation. they do not communicate well, and their royalties are lower than any other company that I've seen.
frank is right. it's all about the lease, and especially so with chk. if you didn't take the time and make the effort to get a good lease, you will likely always be disappointed.
most of the lawsuits against chk will likely come to nothing in the end. they are not stealing, and they most likely are not breaking any laws. there will some day be a class action settlement with them which will determine just how much they will deduct from then on. we just hope that the lawyers who represent us in that action are up to the task.
wj
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Thanks, that is very reassuring. Have to put my daughter through College soon. The lawyers are working on an air tight lease now so it's wait and see.
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