Chesapeake transfer of leases to Jamestown Resources

Does anyone know why Chesapeake would be transferring so many leases to Jamestown Resources.

This is happening in the Marcellus Shale areas of Northeast PA.

Thank you.

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0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on November 8, 2014 at 2:19pm

Barbara,

      Look at yesterdays posts. Gail Morrow said that CHK was leaving Hancock County. My opinion was that WV now requires NGLs to be reported.

Earlier in the week someone mentioned that CHK was going to deep drill in Kentucky in the Rome Trough. There are 16 oil and gas plays in the Trough compared to 4 or so in this area. I assume they are headed for the promised land.

With PA having a new Governor, CHK may have lost the connection they needed to take what they want and ration out a royalty to keep the landowners quiet.

And there's the Dept Of Justice news, with CHK sure to end up in court, they may need some cash to pay some fines. We can only hope the Feds break the company for the injustice they have dished out to good people across the country.

This is my opinion based on the news I've been reading.

"Monthly theft by a producer will take a toll on honest people". Quote found in the attic of an abandoned house in Belleville WV.

Permalink Reply by Barbara on November 8, 2014 at 2:56pm

Thank you Ron for your comments.  This all makes sense.  Do you know  anything about this Jamestown Company?  I have not heard of them in this area. 

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on November 9, 2014 at 1:02pm

Barbara,

     Jamestown Company doesn't sound familiar except in the history books when the first few settlers landed in VA if I remember correctly.

I'll take a look on line and get a quick summary of who they are.

It's just Aubrey Setting up shop.

Overview of Jamestown Resources, L.L.C. in Oklahoma City, OK

Jamestown Resources, L.L.C. filed as a Foreign Limited Liability Company (LLC) in the State of Texas on Monday, January 9, 2012 and is approximately two years old, as recorded in documents filed with Texas Secretary of State. The filing is currently active as of the last data refresh which occured on Tuesday, December 3, 2013. A corporate filing is called a foreign filing when an existing corporate entity files in a state other than the state they originally filed in. This does not necessarily mean that they are from outside the United States.

Key People

Aubrey McClendon serves as the Member and has interests in other corporate entities including Arcadia Resources, L.P., Larchmont Resources, L.L.C.

Kathleen McClendon is the Member of Jamestown Resources, L.L.C.. Kathleen's additional corporate interests include Larchmont Resources, L.L.C. located in Oklahoma City, OK

The registered agent for the company is Csc-Lawyers Incorporating Service Company. Also known as a statutory or resident agent, the registered agent is responsible for receiving legal notifications regarding court summons, lawsuits, and other legal actions involving the corporate entity.

Permalink Reply by Joseph-Ohio on November 8, 2014 at 3:43pm
What's your prognosis for CHK in Ohio Ron H. ?

Do you think Jamestown will get involved in Ohio as well ?
0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on November 9, 2014 at 12:53pm

Joeseph-Ohio

Prognosis for CHK is bad based on recent Dept Of Justice news.

The drilling will slow down and hopefully the theft will stop.

To quote Bruce Buck "If they aren't going to pay me for what they take off of my property, they can leave it in the ground". Being stolen from is very stressful and hard to watch. You don't want to have this issue when your property is drilled.

Our minerals will be fine a few more years where they sit. I know the producers who show up will be honest, and respect our ownership and pay a real royalty.

Permalink Reply by Joseph-Ohio on November 8, 2014 at 4:21pm
Remembering Aubrey McClendon was supposed to be paid a percentage of production from every well CHK developed as part of his severance package.

Wondering if he also will be paid some percentage of the sale / assignment to Jamestown Resources ?

Just curious / wondering how this works out - anyone know ?
Permalink Reply by jonathan M. on November 8, 2014 at 5:24pm
Jamestown is aubreys company. This is not a transfer of leases rather the 2.5% working interest. Chesapeake still owns the leases
Permalink Reply by Dexter Green on November 8, 2014 at 7:35pm

Jonathan is correct.  This was part of his compensation under the Founders Well Program during his tenure as CEO.

Permalink Reply by Joseph-Ohio on November 9, 2014 at 1:24am
Huh ? ?

Wha' ? ?

So the post's titled incorrectly and Ron H. has the wrong raccoon treed in this instance so to speak; and the whole thing is about McClendon's (Jamestown's) 2.5% interest in the wells / leases just / finally being recorded ? ?

I wonder how many more companies A. M. owns ? ?

Alot of smoke on the field - don't you all agree ? ?

Hard to see ! !

Then there's all of the 'trust me' mirrors to deal with too ! !

Well, I suppose it's all just part of life in the big city ! !
Permalink Reply by Barbara on November 9, 2014 at 7:03am

Hi Jonathan,  thank you for the information.  Why would they go through the trouble and expense of filing all this paperwork if it is just to reflect his 2.5% working interest?

Wouldn't he have had that written up as a contract or some other legal document prior to his leaving?  According to Landex.com these leases appear to have been transferred in their entirety, ours included.  I cant see anywhere that it is only a percentage of the lease holding.  I am just being nosey about this because we have had such a bad experience with Chesapeake I am trying to see what they may be up to. Not that I really think that is possible! Thank you again.  Update:  I just read John's message below, I guess that kind of clears this up for me.  I give up trying  :[

Permalink Reply by jason irvine on November 9, 2014 at 2:36am
I would agree if we were in a big city. Wait til my fellow rednecks start sabatoging his wells. We will only wait so long for justice and eat so much sh.t until we take things in our own hands. I'm not condoning this but hill boys are used to dealing with the problem then the sheriff shows up a hour later. For the record I'm one of those redneck hillbillys. I guess the accent makes people think we are stupid and weak....
0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on November 9, 2014 at 1:15pm

Jason,

     If you would like to file complaints with the state or federal government, I can help you with the format and addresses.

You'll find the "Pen is mightier than the Sword" and there are a lot of legal ways to solve problems once you start looking for the solution.

Being a Hill Billy, a Nice Guy, or even funny looking like my mascot, may make us look weak, but the sting you can deliver with your pen will do more to recover what a person has attempted to take from you than a good butt kickin could recover. Staying out of jail is a plus too. 

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