Chevron taking over CHK leases in Beaver County

Yesterday, a neighbor of mine told me that Chevron was acquiring leases off of Chesapeake in our area (Ohioville, South Beaver).  With all the active sites, from Thompson, Tharpe, Burdick, Fedorchak, etc, in this area, some now connected by gathering lines, it didn't make sense to me.  Has anyone hear about this, or is it just another rumor.

Thanks.

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Replies to This Discussion

Permalink Reply by craig on October 12, 2012 at 11:49pm

I've not heard anything about Chevron, but I did find online at the BC site that CHK has sold at least some of the future royalties of the Rolling Acres well(s) to a private outfit from NY. They are in money raising mode ya know.

End of the year will be interesting, Shell has to announce if they plan on acting on the option to buy the Horsehead propertuy by EOY. I also know of a few larger parcels that their leases start running out then as well and their is no way they can get em drilled in time to HBP.

Permalink Reply by Larry Livengood on October 13, 2012 at 7:57am

A number of people in the Burdick unit that were coming up on expiration of lease and they weren't going to be producing were paid a Shut in Royalty of $1 an acre which extended the lease 1 year.  This was in the O&G leases.  Maybe they'll use this to hold those leases.  There is no limit stated as to how many times they can exercise this option, so year by year they can hold leases on the cheap.

They are to finish fracing Fedorchek this week.  Burdick and Tharpe gathering lines in.  Hoping for enough royalties to take the wife to McDonalds after spring hay is done.

Permalink Reply by craig on October 13, 2012 at 9:05am

The leases that are soon expiring are not part of a unit and won't be part of a unit when they expire, so  that trick won't work. : )  I know CHK has alot of tricks though, so we'll see. 

They fraced the Petrik unit on Stateline road 2 weeks ago, not sure if they flared or hauled any flowback away though.

At $2.xx natural gas the Thompson folks were getting anywhere from $40+/acre/month to $70/acre/month, depending on how much they were allowed to put in the pipeline to sell, fwiw. That was last fall/early winter. There ARE some liquids in the Thompson gas and that is why CHK is/will be adding some equipment to the site. So the checks should be at least somewhat higher...as well as the price of gas has gone up some. You won't get a royalty check for around 3 months after they start selling it seemed.

Permalink Reply by industry resident on October 15, 2012 at 7:50pm

Craig, my question is how many laterals (well heads) on thompson  pad? I have seen multiple permits per pad and the 40 to 70 per acre per month has me curious if say 4 wellheads vs one equals 160 to 280 per month per acre? thanks in advance for your input

Permalink Reply by craig on October 16, 2012 at 12:12am

One lateral that is 4,000' plus if I remember right, but it was initially permitted for 6,000+

The lateral travels NorthWest towards Blackhawk and Stateline Roads. 

When thinking royalites/month you have to remember that the driller usually can't just turn a valve and sell all they can, when they want. I know there was one month late last year that they got $40ish/acre caused by halving of the volume over 30 days.... I've seen stubs for 3 months production. Originally the unit was to be 361 acres. I know they added to that, which information you could find filed at our County online site. If you don't frequent our County site, you need to visit at least once in awhile. You can find some interesting things there.....   http://www.searchiqs.com/pabea/   

Sending a friend request.

Permalink Reply by Gary on December 16, 2012 at 7:41am

Any more info on the sale of Beaver county leases..I was told last night that CHK traded all of the Hanover township leases that they owned to RRC for all of RRC's Green township leases..if this is what happened wouldn't there be a lease filing in the court house?...I was also told that CHK sold 1/4 intrest of the McMasters well...Anyone have any info?

Permalink Reply by craig on December 16, 2012 at 9:47am

It isn't unusual for co's to trade leases like you mention. 

Yes, eventually they will have to file the transfer but I don't know the timeframe they have to do so. My business is too bz right now to do much research, but will post if I do find anything when I look.

Permalink Reply by Jason on December 16, 2012 at 10:32am
Hey Craig - where would I look on the county site? I could search for this.
Permalink Reply by Tim Tarr on December 16, 2012 at 1:36pm

Jason

  Recorder of Deeds on county site should have that info, I'm in Washington county and they use Landex but I diddn't see Beaver listed there so Beaver probably uses another company. Keep in mind when these companies "flip" leases it's not always filed under correct Twp. I know when ours was filed it was filed under different Twp. in a large filing that listed all the Parcel #'s and correct Townships.

Permalink Reply by craig on December 17, 2012 at 12:51am

http://www.searchiqs.com/pabea/ 

no password needed.

search for Chesapeake Appalachia amongst others. For starters limit the dates to going back say 2 months. Then you can figure the rest out I'm sure.

Permalink Reply by Jason on December 16, 2012 at 2:31pm

I checked my lease - I saw the original with CHK and nothing else. Maybe it takes a few days to input it into the website?  

Gary - was it an accurate source?  As a Hanover property owner, if true, I'm very happy.  If not, I hope it happens sooner rather than later.  Their reputations are so different.  I didn't want to sign with CHK, but was offered $1000 less per acre by RR when I did sign.  

Permalink Reply by Gary on December 16, 2012 at 3:55pm

I would consider him reliable..however I haven't heard of this happening and I keep my ear close to the ground when it comes to GAS!!

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