Trying To Keep An Eye On What Happens With The Chesapeake Sell-Off

If anyone has additional info. I think it would be helpful to post it here.

I think that alot of what happens with new Leasehold agreements will be determined on the outcome and what outfit buys up the Chesapeake Leaseholds being sold - contiguity of lands being rather important to establishing horizontal drilling pads / 640 acre drilling units.

Keeping my ears and eyes open anyway.

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Replies to This Discussion

Permalink Reply by Gary L on June 11, 2012 at 7:17am
Permalink Reply by Joseph-Ohio on June 11, 2012 at 1:58pm

Thanks for the follow up Gary L.

 

Permalink Reply by Joseph-Ohio on June 11, 2012 at 11:04pm

Has Chesapeake morphed into 'the mother of all flippers' ?

0i7okn54zwbdoPermalink Reply by 0i7okn54zwbdo on June 12, 2012 at 3:23am

No, they haven't morphed.  They've always been the mother of all flippers.

Permalink Reply by Joseph-Ohio on June 15, 2012 at 8:48am

Would like to think that the big guys would seize the opportunity to jump into the play as quickly as possible.

When it's our turn, our family would like to do as well or better than the most recent folks. In Trumbull (with BP as I understand it) they did $3,900.00 per acre for 5 years and 17.5 % with the option to renew after the initial 5 year term. Then I read where BlackRidge in Southern Ashtabula County signed folks using a lease paying $4,250.00 per acre for 5 years and 18 % with option to renew (they used a BlackRidge lease as I understand).

Also, initially I heard/read that in Trumbull there were about 84,000 acres signed with BP utilizing an ALOV lease agreement and then later I read that there were private landowners involved in signing up. And most recently (this morning) I learned BP signed another 20,000 acres (presumably in Trumbull and / or Southern Ashtabula Counties as I still wait for clarification on the counties involved.

I have not heard how many acres were involved in the BlackRidge Southern Ashtabula signups as yet; nor have I heard if there were any individual landowners involved beyond the landowner group some have identified as the 'Magyar Group'.

Would like to know how the percentages of the signups finalized - that is to say what percentage of the total were private landowners and what percentage were landowner groups ?

Would also like to know if the lease agreements used were consistent among private landowners and landowner groups ? That is to ask 'did the private landowner signers in Trumbull have a different (perhaps BP lease) to sign vs. the ALOV lease'; or perhaps even more landowner groups and varying lease agreements were involved. ? ?

Any details ? ?

Permalink Reply by Joseph-Ohio on June 20, 2012 at 8:08am

Looks like Sinopec (SNP) is looking real hard at Chesapeake's unconventional oil and gas play offerings.

Sounds like funding is somewhat of a challenge for them as they are already 'leveraged' significantly in the eyes of their backers.

Check it out.

http://www.ft.com/cms/s/0/0e8ac61a-bac5-11e1-81e0-00144feabdc0.html

What's your read / opinion ?

Kindest way for me to describe it would be as a real 'good news - bad news' story.

(Link Not Working - Apologies)  But, if you do a search for Sinopec, Chesapeake you'll be presented with sites reporting these current events.

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