Some time ago, I read where people wanted to know if leases were being renewed in northern Beaver County. Our original lease was to run out 6/15/15. As of 5/7/15 it has been renewed for 5 more years @ original terms.
Sure Trapper I don't mind. As I said months ago or maybe even years ago we got the original amount of $1500 @ acre. That might not seem like a lot but it is money we didn't have before.We had had no contact with CHK & all of a sudden here came a check just like the first one. CHK was true to their word. We'll someday see what happens or maybe we won't be her to see, but our kids will. We're senior citizens now, maybe we won't even get to see the drilling of the well. Hope everything works out for everyone.
do you mean to say they are renewing leases in your area? What area, if I may ask?
What areas are they not releasing in, too, if you know?
CHK is not renewing leases that are East of 376 on the the North side of the Ohio River.
We live in Darlington Twp. in northern Beaver County, in fact we are so far north our mail comes out of Lawrence Co.Our lease was renewed about a month before it ran out. I might not be exact on the dates.
The whole issue comes down to the politics in Washington. It was too much that the U.S. was becoming independent in the energy sector and relying less on the Arabs and everyone else involved. So, a deal was made with the devil to lower their oil prices and to thus hurt us in our energy production, oil, gas, you name it. It's like anything else, if you're on the bleeding edge you reap the big rewards, but after awhile it all dwindles down.