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Permalink Reply by Sara A. Worsham on January 30, 2013 at 5:51am

Sue,  You should probably contact an attorney and discuss this with him/her to decide what your best interests are.  You can sign with another company if one contacts you, but according to your post, Chesapeake is the only company that has contacted you at this point.  My guess is that Chesapeake came in offering more at first because there was competition in the area and they wanted to secure your acreage, then realized that there was less competition, so came back and offered less.  Another scenario could be that when you were first approached, your area was a higher priority and they may have switched their priorities to another area. It could also be something else entirely, like pipeline issues, or others in your area that did not sign with them, as they need a minimum amount of continuous acres to form a unit. You will not receive royalties unless you have a lease.  I am also assuming that you own 100% of the royalty interest in the land.