I have been hearing that a lot of leased landowners in these areas have been receiving checks (from CHK) for leases that have not expired as well as owners that are signing new leases and renewing expired leases (with RRC)...please let us all know if you signed or are being asked about leasing...we all need to stay up on what is happening around us..as well as what they are offering and who is offering...something is happening slowly and quietly..please let us know what is happening around you...
Welcome to the group. I am North of the Ohio river where the situation is different so it is hard to properly comment. Generally the originally signed leases from back then were too favorable to the company and terrible for the landowner. You need to talk to a attorney to be sure, before signing anything. Maybe others can recommend an attorney proficient in the gas/oil lease industry. I don't like recommending someone without having used them.
Remember IF they drill and you are put into a unit, you will be tying up those mineral rights, possibly for many decades. Your old lease may even allow them to run a pipeline across your property, if they desired. This a very important decision.
Be smart and not in a hurry!
Not in a hurry at all. I am thinking of getting a lawyer although I have to admit I really don't like the profession. I am not sure if I mentioned that this is a renewal of the lease of the original owner. We moved here in 2014...Thank you and I will see if someone can recommend an attorney. Thanks again.
Marge, Same people came here....offered me $100.00 for the first year....and $2,500.00 per acre and 17% Royalty for the next 4 years. I did not sign ! Good Luck !!!! Please contact an Oil Attorney !! I have land in Hanover and a Farm in Hookstown. I was told Range does not have the $$ to pay up front. Range just sold 11,000 acres in Bradford,PA. for 110 Million. Ask yourself.....WHY.... Can't they pay us NOW ????
Thank you Nancy, I will do my research for an oil and gas attorney. I am taking this quite seriously although we only have 4+ acres. I agree about the money, I worked at a brokerage firm and had my Series 7 license and my husband and I own businesses. Will do my research. Thanks again, will let you know.
Same people came to me. Just remember, the first year you will get basically nothing, second through fifth year you get your money per acre but from what I was told, if they drill or permit for it, you stop getting the bonus payment and the royalties take over so you get short changed on the signing bonus. Anyone else in the group can comment if i'm incorrect on that but I asked the representative if this was true and he did not disagree with me.
If you are a first time lessor for horizontal drilling, do an internet search on Chesapeake Energy's "Track Record" for all of the Shale Play States in the US: TX, CO, ND, OK, PA, WV, NC, LA, OH, and MI. There may be a few I left out.
Also go to propublica.org and read what Abrahm Lustgarten has reported about CHK.
How about PA Attorney General vs Chesapeake Energy.
Ohio Landowners can attest to the fact that CHK will eventually claim they overpaid you and will take your well products free. That's where we are today in Ohio.
In order to be fully transparent, I have to report that I did receive 50 cents per acre on Buck Well 1H last month. Paige Well 5H has not sent out Division Orders so the money I'm getting from this well isn't really legal yet, so I won't reveal how much my 0.6 acres out of 23.6 acres held by production is bringing in.
I have the Pugh clause in my lease. Chesapeake should have read my lease before working so hard to touch 0.6 acres. They will have 0.6 acres to flip to their buyer. Did I mention that in WV when CHK sold their holdings the new company continued the actions of theft in progress by CHK?
One WV landowner told me "It's as if I was still leased to Chesapeake". Praying for a buyer to take over for Chesapeake isn't going to solve your fraudulent royalty payment issue.
Thanks for reading these facts and please don't complain that I am ruining your Dream. I believe it is Chesapeake who is ruining all of our Dreams, for now.
Sweet dreams are ahead for all involved in defrauding Ohio though.
Free clothes, free food, free fitness room use, a law library, and maybe a night light for those after hour cell visits from Good Kids gone bad when their parents were robbed of the opportunity to pay for college or provide other opportunities, which resulted in no legal route to pay for the necessities of life.
What is happening with leasing in these areas? Any new leasing?
Brad, I was just offered a lease renewal in Green Townsihp...thx for the reply..
I am in the process of renewing my lease with RRC, wish I could find out what others might be getting to lease per acre, I have 94 in southern Beaver, Hookstown area. It's hard to decide on a fair price when you can't find any others around me signing up at this time.