Comment

Comment by Finnbear on July 15, 2011 at 12:39pm

If anyone signs a lease without having a mineral rights search done first, then shame on them. How can someone sell something they don't even know if they own? It is not that hard to do the search your self, or for a few hundred $ you can have an attorney do it for you. This is a deductible expense from your taxes in the year you sell the rights so you will get it back.

Comment by Mark Allen on July 15, 2011 at 11:54am

thanks for clarification Dan.  I had three neighbors that took the lease and 2 got the rejection letter, one was from a lease years ago,that was active, the other was told he had no mineral claim,previous owner had reserved them. However they both were told by another company they were sound, Tristate/wishbone. o who are they to believe.

My stance is to have the attorney certify title,prior to signing. 

Comment by Dan on July 15, 2011 at 11:05am

Mark, your facts are incorrect. They remind me of the Gasland documentary - a bit of fact combined with a lot of misinformation. Yes, some rejection letter are coming back. Ther will always be some percentage that will. But in the ALOV deal CHK cannot reject a lease for just any reason, and in fact are obligated to take each lease unless there is a legitimate defect. If one is found, the landowner is granted time to correct it, and if they do so, then CHK is obligated to accept it. And if you are implying that the ALOV deal sacrificed lease wording to go for a higher bonus, then you have not read through the ALOV package at all.

Comment by Mark Allen on July 15, 2011 at 10:15am

I hear the alov rejection letters are coming daily to a landowner near you.  Most of what the alov got from chesepeake was cherry picked,only the prime land will receive payment the majority was rejected. It was a non guarantee lease,if it fits we may take it if it doesn't we may reject it. When bonus money is the prize the lease language gets left behind.  

Comment by HB on July 15, 2011 at 9:56am

Has anyone from the first ALOV group signing (about 1st week in April) gotten paid by Chesapeake yet?  The 90 day title-clearing period should have just ended recently.  Very curious because I signed in the second group which was given about a 5-month waiting period (so will end about 1st week in Sept.).  Really, really curious to see if CHK is paying up.

Thanks.

Comment by Shower Bath on July 14, 2011 at 12:26pm

You may find some useful information on the industry

and leasing in the various shale plays.

http://oilinvestingnews.com/

Randy

 

 

 

 

Comment by Shower Bath on July 13, 2011 at 11:17am

An iteresting comment about leasing in the wet shale play

in Texas. Something to consider if you have not leased

already. From Oil and Gas Mineral Services, www.mineralweb.com/

click on News tab, second article down is Boone Pickens. Randy 

Comment by porkchop on June 30, 2011 at 2:22am

Here's one more opinion from Cramer's "Mad Money"

http://www.cnbc.com/id/43564235

Comment by Dan on June 27, 2011 at 7:54am

I don't see a letter from CEO to employees, but here is a press release quoting CEO Aubrey McClendon in response to the article:

Chesapeake Energy Corporation Comments on Inaccurate and Misleading...

 

Comment by porkchop on June 27, 2011 at 7:16am

If you go to Chesapeake Energy's website you can find it there.

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