Lease renewals

I have a Carroll County Lease with Chesapeake.  It will expire in mid-2016.  We are not drilled, but there is drilling all around us.

 

Does anyone know if Carroll County Leases are being renewed? 

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Mike MurphyPermalink Reply by Mike Murphy on July 24, 2015 at 2:48am

I say they will renew .......they have a 500 million dollar mortgage on those leases and total is a partner .....in for 1.5 billion if they don't release the acreage theirs going to be 2 companies not very happy .....the bank and Total both  besides your stting on some prime acreage in Carroll county .......you may see southwestern ending up with all of CHK acreage in ohio they already have 400,000 acres they bought from CHK in pa and wv and southwestern is renewing leases there.....CHK stock is below 10 bucks a share and they are not paying dividends on common stock anymore

Permalink Reply by Vera A. Harris on July 24, 2015 at 3:08am

Thanks!  I appreciate your input!

Permalink Reply by Booger on July 24, 2015 at 7:02am

agree with mike..........except who knows where pricing will be mid next year.........opec, iran etc.........low oil/gas pricing can be a factor on renewals........under $50 bucks right now. 

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