Most landowners in the Utica still have 2 or more years left on their leases.
in western beaver county chk is letting tons of leases expire!
My farm is in Hookstown, PA. Greene Township, Beaver County. I still have 1 1/2 years left with CHK. My understanding is Range is buying out all CHK. leases south of the Ohio River. ( I sure hope so ) My neighbor was approached by Range to sign for $ 2,500.00 per acre at 17 %.
If Chesapeake is letting" tons of leases expire in Beaver county", then I would speculate that they can't find a buyer at the price they are asking. A prespective buyer is gambling that a new lease with the landowner will be cheaper then buying it from Chesapeake.
I was under the impression that the Southwestern purchase of CHK's leased acreage in PA and WV included Hancock county leases..does anyone know if that is true?
Gary, I am pretty sure I saw a map that SWN is in the process of leasing all of Hancock, also some in Tyler County, Great news for these folks !