Recent Offers from Chesapeake

I am one of the Wyoming County land owners that has not signed a gas lease yet.  Most of the land owners around me signed with Chesapeake under the Wyoming County Land Owners Associaton late last year.  I have been talking to Chesapeake recently and they are now only offering $3,750 per acre with a 20% royalty.  I told them I needed at least the $5,750 that Chesapeake gave the land owners group and he said they made a big mistake and never should have signed that contract.  I have decided to wait for a better offer.  Has anyone else had any recent offers from Chesapeake? 

Views: 5125

Replies to This Discussion

Permalink Reply by marianne wengert on January 5, 2012 at 3:47pm

janet never recieved any paperwork from you, did they cancel the meeting

marianne wengert

mwnotary@comcast.net

Permalink Reply by Sam Douglass on October 6, 2012 at 10:09am
When Chesapeake is ready to drill on your property you may be able to get substantially more than what you have asked. The question is whether that will be next week, next month, next decade etc. Chesapeake has had some recent temporary problems as you can soon find out by Goggling. When the stock tumbled, i bought a little since I am confident it will go up. Presumably it is overextended. At any rate it has curtailed land operations and, at this moment, is only acquiring oil and wet gas properties. It is only acquiring dry gas properties it absolutely needs according to reports. If it is talking to anyone in a dry gas area right now, I am guessing it wants the property very much. Or Chesapeake may have some time to acquire it if trying to fill in blanks.
Chesapeake has been a leader in aggressive land leasing [probably outbidding competition]. I suspect other companies are delighted to see it slow down -- for a while. I think, but do not know, that Wyoming County is a dry gas area - a very productive one. The producers have made sure that the market is flooded with dry gas at the moment to broaden the market for dry gas - and it is working. More and more energy users are switching to dry gas and it will not be long before facilities are ready to send some overseas as LNG to a hungry market. The industry seems to expect the price to rise to between $4 and $6. Since the gas can be pulled out of the ground for less than $1, there is room for a little profit there. The last I looked, the New
York price for gas was close to $3.50/mcf.

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service