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Permalink Reply by Terry giuliani on November 10, 2012 at 6:41am

Lease runs out on Monday. Had one Certified letter from CHK a month  ago, I have not responded yet. In Jefferson Co., Steubenville Township. Have letter from Global for Survey, but have not responded yet. Neighbor was offered $1000.00 per acre for one year by CHK for 130 acres but turned it down. CHK probably wants to hold him untill survey done. Just waiting till Monday to be sure this bad lease is over.

 

 

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Permalink Reply by craig on November 10, 2012 at 4:10pm

CHK probably wants to hold your neighbor for one year so they can figure out a way to put 1/4 acre into a unit and hold the whole parcel forever. Be dang careful. I'd make sure you or your neighbor get a completely NEW lease if top leasing, cause the first lease probably isn't in your favor in any imaginable way. 

In Beaver County Pa, I have a neighbor who signed a 3 year extension of his old crappy lease for $1000/ acre with only 100/acre payable on signing, balance when they drill/put him in a unit. I sure wish folks would talk to neighbors before signing crappy leases. 

My lease with CHK runs out next June. I also see where CHK is trying to use force majeure to extend leases in Beaver County, Pa, which has bristled a few folks who are gonna sue them over this as there is no reason for it.

Good luck.

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