I'm leased through Chesapeake, but it seems all the activity in my area is happening through Hilcorp.

I'm leased through Chesapeake, but it seems all the activity in my area is happening through Hilcorp.  What happens with my lease?  Will I be left out of a unit?  Or will Hilcorp just buy my lease from Chesapeake.  I'm sure this is a question many of us are wondering.  I'm in extreme Eastern Springfield Township, Mahoning County, Ohio.  

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0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on January 16, 2013 at 3:35pm

The answer is unfortunately not a clear one: it depends.  If your property (which is I have no idea what size) could be very valuable to Hilcorp X months from now.  Or maybe their units are set and they have no need to approach CHK about your lease.  Maybe when CHK dumps their position outside the core areas (you are currently in JV acreage) they'll use some of that capital to expand their operations into Mahoning a little more aggressively.  Maybe nothing happens and you wait for half a decade.  Like I said, it depends.

Permalink Reply by Paul Martinelli on January 16, 2013 at 3:46pm

lease could be sold to Hilcorp....I'd hope for that!

Lease coup remain with CHK....and Hilcorp could be the operator of the drilling unit that includes your acres.

It all depends on what is in the best interest of CHK.

 

There are numerous outcomes. Just have to wait and see....not what you wanted to hear.

Permalink Reply by Big D on January 16, 2013 at 3:51pm

I only have 5 acres and located about 100 yards from the Nipsco-Hilcorp pipeline that are currently laying.  Half mile from the future cryogenic site.  I hope Hilcop buys the lease, CHK seems like a shady corporation... 

Permalink Reply by Jody Macklin on January 16, 2013 at 3:57pm

We are in the same boat here in New Middletown on Struthers Rd.. Chesapeake came in early and leased propertys but there doesnt seem to be any rhyme or reason to what propertys they leased. About six months later Hilcorpe came in and leased what seems to be alot more then Chesapeake , filling in the holes that were left. We assumed who ever held the most leases in a paticular unit would buy out the others leases!??

Permalink Reply by Big D on January 16, 2013 at 3:59pm

ya i would imagine whoever drills would buy the leases...  looks like hilcorp is going to do the drilling on our side of the township.  good for us!  

Permalink Reply by Jody Macklin on January 16, 2013 at 4:10pm

Yes I agree! I also am happier with the idea of Hilcorpe doing the drilling.

Permalink Reply by Clinton44 on January 16, 2013 at 4:28pm

Check in your local courthouse and see if any of the leases were reassigned.

We are in PA and are leased with Anadarko. Anadarko has two venture partners in their drilling operations in our area, and they reassigned different percentages of financial interest in the units to their venture partners who in turn market their own share of the production and pay royalties based on that percentage. 

Permalink Reply by Big D on January 16, 2013 at 5:54pm

In Ohio we can check out county Recorder's office via website to see lease and assigned leases... 

Permalink Reply by Big D on January 16, 2013 at 5:53pm

I signed about one year ago...  It will expire in 4 more.  Your right, I consider it as money I found in my driveway!  

Permalink Reply by Big D on January 16, 2013 at 5:56pm

I wanted to create this post because it seems there is not a whole lot of information available regarding this subject. . .  

Permalink Reply by Dan S. on January 17, 2013 at 1:37pm

Check you deed to make sure Chesapeake has not flipped it. The County Recorders have been busy with that type of thing lately.

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on January 17, 2013 at 2:27pm

Your lease hasn't been assigned.  At least not yet.

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