Comment

Comment by John & Deborah Hazelbaker on May 2, 2012 at 7:06am

Just to let you know our lease was up in the beginning of Apr 2012.  The original lease was for auto renewal (if Cheaseapake wanted to) so they did.  We recieved another five year renewal at same cost of first 5 years.  So we will wait once again for another 5  years to see if anything produces.  No new lease just a voucher with payment.  This was what our attorney advised us could happen and did. 

Comment by Sydney Nestor on May 2, 2012 at 6:31am

Asking the same question as Barbara....any updates for Preston County?  My lease runs out in August of this year and we haven't heard anything.  Does anyone know when the last time was that they renewed a lease here? 

Comment by Barbara Mahaffey on April 22, 2012 at 10:07am

Any updates for Preston County?   Just wondering if anything is going to happen.  My lease ends at the end of this year.  Does anyone know what the going rate is for renewal or even if they will renew.   

Comment by John & Deborah Hazelbaker on October 28, 2011 at 4:45am

Chesapeake came to us via landsman - we are from out of town and didn't know about any of what was going on.  I would say go to their website and see if there is any info.  The landsman is from a private contractor.  We haven't heard from anyone at Chesapeake since day one over 4 years ago, nor the landsman.

Comment by gasoholic on October 28, 2011 at 2:58am

The Preston County Land Group is said to have agreed to a deal back in July. The signing company name was not given but here are a few of the terms that was mentioned. 

Paid up $3300 per acre
18% - no deduction royalty
7 year lease with the right to renew another 7 (at $6000 per acre)
Horizontal pugh -  max of 320 acre drilling units.
Vertical pugh -  not including the Utica or Upper Devonian.
Many more addendum - shut in, drilling commitment, storage, etc.

Comment by J Straub on October 28, 2011 at 12:17am

I have property in Preston county as well, and have received no offers. Does anyone know who to contact at Chesapeake to solicit offers? Thanks

Comment by gasoholic on October 27, 2011 at 4:08pm

Barbara, in case you did not here, Marathon and Triana Energy joined together early 2011. Triana is supposed to drill 4 wells by the end of 2011 but their only area of activity so far has been in Taylor County with permit applications showing in July and August. Marathon has many leases due to expire over the next 20 months in several WV counties but they seem to be in no hurry. You can read the story here. http://www.trianaenergy.com/

Comment by Barbara Mahaffey on October 27, 2011 at 2:23pm

Mine is with Marathon Oil,   I am near the monongalia county.  Still nothing. 

 

Comment by brinlady on October 27, 2011 at 12:53am

John & Deborah, Preston County passed a much-needed school-bond issue which raised property taxes by about a third.

Have you received a notic of increase in taxes recently?  The tax folks in Charleston have been "finding' coal seams in that area that also are raising property taxes.

So far, I have had no increase in taxes on gas. Depends too on whether you own surface or only gas or coal.

 

Brinlady

Comment by John & Deborah Hazelbaker on October 27, 2011 at 12:24am

BTW has any other landowners in Preston County seen the tripling of their property taxes since the state office realized we have signed gas lease agreements?

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