Replies to This Discussion

Permalink Reply by CJK on March 19, 2010 at 4:44am

Wow, I should have learned already to use that spell check before I push the reply button. Sorry for the sloppy question.

Permalink Reply by daniel cohen on March 19, 2010 at 5:11am

Dear CJK,
First I'm hearing about it-any more details available?
Dan

Permalink Reply by CJK on March 19, 2010 at 6:50am

The article was in The Daily Review, I believe on either Tuesday or Wednesday, it states, "Chesapeake... has mailed out letters to certain residents in the greater Towanda area..." Chesapeake is offering a 10 year lease that would pay $5,000 per acre with a 20 % royalty. Chesapeake declined to discuss the terms. The article noted that last year Chesapeake offered $5750 plus 20% royalty to Wyoming County Landowners Group. It also noted that the Northern Tier Career Center a five-year lease , $6500, 20% royalty on 73 acres with Chesapeake.This lease probably also includes no drill clause on most if not all of the land.
If anyone is planning to go please be careful about reading the leases, first of all they want 10 years, they should be giving you a five year for that price and ask to take it home to have your attorney or another person who might know more than you do. Please do not sign it there. I have seen some of the recent leases Chesapeake is asking people to sign. They have injection wells permitted in them and other items. I could post the lease that I have of Chesapeake's latest round if you would like me to.
Please do not let them pressure you into doing something you do not want to do. I would also suggest that you bring tape recorders and tell them that you wish to record what they are telling you to help you remember and review what they are willing to offer you. I am amazed at some of things that the landmen are telling people to entice or pressure them to sign. Remember it is your property and the gas play will be here for years to come.

Have not talked to anyone that had an invitation, but since they do not have a time listed in the article it is my assumption that they are being invited at different times and they are talking to them individually. Does anyone know any differently?

Permalink Reply by Rob Thompson on March 19, 2010 at 1:39pm

CJK......I would be interested to see your "lease that I have of Chesapeake's latest round"!
I wonder also, what constitutes the "greater Towanda area"? We live in Franklindale, off 414 and have a lease that expires June 13th and are holding our breaths that nothing is put on our property before then and that we can negotiate a better lease.

The seismic guys have been creeping around this area....the other day three guys came walking out of our woods and headed down the field. I sent my son out to see who was on our property and when he yelled to them, they just kept walking and ignored him. He finally yelled that he was going to pull their stakes and call the cops and they stopped. Then proceeded to pretend they didnt speak english. He finally got them to call their boss who cam over and said we should have been notified that they were on the property. We hadnt been.

I called today and told them if they dont let me know next time, my five dogs just might be loose when they come walking thru!!

Shame we cant get people together to form something like the Wyoming county landowners to make sure we all get a fair deal. I heard that our neighbors signed at like $1500 an acre....that's crap

Permalink Reply by CJK on March 19, 2010 at 5:06pm

Rob:
I will find a way to attach the lease to this site. I am not sure how to do that yet.
With reference to your lease, Chesapeake is asking people that are not signed yet to this lease signing event. When did you sign your lease? My daughter and her husband have a lease in Leroy that is up in June also but they have a clause in it that states they can renew it at their option. Whatever you do if you receive a check from them in May some time do not cash it, until you see a lawyer. In some cases leases have been entered in to before other leases were terminated and this might make them invalid.

As for the seismic guys they should not be on your property unless you signed an agreement for seismic testing. They have been handling that with a seperate agreement with additional compensation. Please be careful when signing this agreement there is a lot I have learned about these as well. That I would be glad to share if you want to know.

The lease Chesapeake is offering is not a good lease. I would also suggest that in addition to calling you either email or send snail mail notice of what you have said. Documentation in the form of writing is required as proof of anything. I cannot emphasize enough the importance of documentation if you want a record. A phone call to the office can always be disregarded as something else in a court of law, unless you have recorded it and notified the person on the phone that you are doing so.

You can get a fair deal, I know of others in Franklindale area that are in the same position as you are and you should reach out to join together. Maybe I can be of some help.

Permalink Reply by Allison Meyers on March 30, 2010 at 3:50pm

Be careful when you sign up! We purchased property that had already been leased at 100.00 an acre. It comes up for the 5 yr renewal on a 10 year lease at thier option april 2011. With people now getting 5K plus for thier lease we feel royally screwed!! Don't think there is any way around or out of it either. We are with Chesapeake.