Chesapeake renewing leases

I have a 5 year  lease with the option to renew for a another 3 years with Chesapeake due to expire on 10/9/2015. I just received a  card yesterday from the mail man stating that I have a certified letter from Chesapeake waiting at the post office. Any ideas what it may be about? Possibly a check to renew the lease?

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Permalink Reply by Frank De Fede on October 6, 2015 at 4:14pm
Just got a check to renew mine. They have another 5 years now. No royalties yet and as far as I know not in a unit. I have had several offers to buy out the lease. If the offers are good enough I might sellout. But, looking forward to the day we become part of a unit and the royalties start.

Anyone heard what's going on in Harrison County.
Permalink Reply by Joe Bezel on October 6, 2015 at 4:31pm

CHK finished the Sadie pad in eastern Archer Twp. this summer and has been conducting seismic surveys and obtaining water line  ROWs.  Their landman says drilling starts in November.  That's all I know about.

Permalink Reply by Kathleen on October 7, 2015 at 5:29am
People being renewed in center township, columbiana county.
They went right to the last day.
Permalink Reply by Robert F Kramer on October 10, 2015 at 1:34am

Since the per acre lease amounts have increased in the past five years, has anybody tried to negotiate a new lease instead of renewing the old one at the same rate? Just wondering.

Bob

Mike MurphyPermalink Reply by Mike Murphy on October 10, 2015 at 1:57am

if  you have a 5 and 5 lease you can not renegotiate the lease you are locked in to original lease agreement from 5 years ago   only way to renegotiate would be if original lease is not renewed ............and if that happens your acreage must not be worth releasing so good luck

Permalink Reply by Chris Crawley on October 10, 2015 at 7:17am

Might just be that the gas company thinks they can get a better deal with you if they let the original lease expire??

Permalink Reply by Joseph-Ohio on October 10, 2015 at 8:56am
That sounds possible too.

Funny how it seems to work out that there's always leverage available to the lessee and very rarely to the lessor isn't it ?

By design perhaps ?
Permalink Reply by Tim Tarr on October 11, 2015 at 12:54am
J-O,
Lessor has all the leverage until they "sign it away". Those leasing budgets are getting real lean at these below production prices.
Time will fix the low prices. Biggest question is how many companies will survive. If there is less competitive bidding (1 company), the Lease terms will suck!! When dust settles on this overproduction and mid to small operators are squeezed out prices will go high for years. The process will start again. Even the big boys are getting downgraded on this downswing.
The larger the down, the longer the high prices will last. When rigs start getting scrapped and leasing is almost nonexistent the bottom is in. Than will be the time to buy HBP leases. That's the " Blood in the Street's " investment strategy.
Permalink Reply by Joseph-Ohio on October 11, 2015 at 5:23am
I'm thinking these days (considering forced pooling rules) even the unsigned land / mineral owner / potential lessor has seriously diminished leverage (if any at all). It seems to me (pending existing leases / lands HBP) it may work out to a take it or leave it circumstance.

Same goes for those who are leased (should forced unitization be applied / invoked).

Judging from all the negative discussions folks are posting / replying to these days - lease terms already suck.

Hoping better days are ahead for all of us.

Like I keep writing - good luck to all of us as I still think we need it - leased or un-leased.
Permalink Reply by patrick on October 11, 2015 at 12:42pm

The renewal terms will be in your original lease. Only if they choose not to renew it will you be able to renegoiate with someone else

Mike MurphyPermalink Reply by Mike Murphy on October 14, 2015 at 5:46am

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Mike MurphyPermalink Reply by Mike Murphy on October 14, 2015 at 2:32pm

so you need to delete that posting

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