Chesapeake reached a new low this month- I had to pay them to steal my gas.
832151-ALDERFER 2H STATE: PA COUNTY: BRADFORD LEGAL: 595.857137 ACRES; LITCHFIELD T
515 2 1.374 2 01 14427.08 .00 -45.95 FL 19872.72 .00261162 37.68 51.78 .00 -.12 51.90
515 2 0.000 2 01 .00 .00 .00 GA .00 .00261162 .00 .00 .00 53.73 -53.73
515 2 0.000 2 01 .00 .00 .00 CP .00 .00261162 .00 .00 .00 .54 -.54
515 2 0.000 2 01 .00 .00 .00 TX .00 .00261162 .00 .00 .00 20.61 -20.61
LEASE TOTAL 51.78 0.00 74.76 -22.98
Amended Makayla, Manning NW, Harlan N, Lionetti, Feusner J, Morettz J and Wray M units.
https://dl.dropboxusercontent.com/u/31036030/Bradford%20Co%20units.kmz
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We had a unit go negative also in Bradford County.
CHK was barely on the positive side, taking 52% deductions giving us 48% We managed to get a few bucks for our gas but Statoil took 58% deductions and put us on the minus column. We owe Statoil for selling our gas or should I say for stealing our gas.
BobT
just a thought wayne....
read your lease and see if in order to hold your lease, they must have a well capable of "production in paying quantities". those, or words to that effect were in many marcellus leases.
obviously, they have not maintained that requirement. a certified letter demanding release of your lease should get their attention.
I'm assuming that your primary term has expired, and that your are held exclusively by production at this point.
jim
Yes, I have that clause. Problem is the other 2 units are not yet negative although getting closer. All controlled by the same lease.
So that is the reason that they are renewing all the permits for additional wells on producing units?
Also I have seen a lot of additional water withdrawal permits for producing units.
John
First of all, that song was entitled: Sixteen Tons
I paid good money for that recording once. Now you can hear it here on the net for free:
Hear "Sixteen Tons" here for free
Now regarding your collection agency mention:
I have never heard tell of Chesapeake, or any other gas company, using a collection agency to collect money owed by Lessors. However, years ago Chesapeake did sue a group of Lessors it had overpaid, seeking immediate repayment of the overage. The over payments in that instance were quite large.
I see our checks are dropping every month soon we are going to minus also, have been expecting this ever since I first read about it. We are making about 12 dollars an acre right now, wont be long!
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