It was 250 an acre paid upfront on a five year lease. Chesapeak is trying to get into Elizabeth twp and will only do horizontals. I have not signed yet, the problem as I see it, they want as close to the 640 number as they can get and I have 55, it could take a long time or never to accomplish. The royality rate was flexable, most likely in the 14-15 range. I would give my land for free if someone would do a deep verticle or two within a year or two. Good luck
I think it is believable. Leasing today is not what it was even one year ago. Companies moved in and were able to get land on the cheap. Live and learn.
Keith Mauck (Site Publisher)
Aug 3, 2009
scott m
Aug 4, 2009
Keith Mauck (Site Publisher)
Aug 11, 2009