chesapeake renewed 4 months early

my neighbor in nottingham twp.got the renewal letter and check yesterday in mail..we have alov lease and its not up till 4/16/16.anyone else get renewed/?.thoughts why so early? im thinking tax write off ? MERRY CHRISTMAS !!!!!

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Permalink Reply by Jim Litwinowicz on December 26, 2015 at 6:34am

Not sure why they would be renewing early.  What are the dollar numbers for renewal? I know some ALOV leases were in the $2500 range and prices went to over $6000 a year or so later.  Maybe these leases are at a low enough number to make renewing them worthwhile.

One other possibility comes to mind. Maybe they need to tie up acreage for a prospective buyer. Just a guess but CHK has been selling assets for some time.

Permalink Reply by ray schmidt on December 26, 2015 at 6:41am

we signed for $2,250 per acre.they have almost 4 months to renew.im thinkin some kind of tax angle. my mail doesnt come till 5pm. so ill kepp you updated..

Permalink Reply by bo boboski on December 26, 2015 at 9:16am

At that price they can  dbl. their $$$ even if they are selling those assets.

Permalink Reply by pinehill on December 29, 2015 at 5:18am

We leased some land on long road is your friend near that area?

Permalink Reply by ray schmidt on December 29, 2015 at 9:52am

yes.mine too still havent recieved my renewell yet

Permalink Reply by pat fiegen on December 29, 2015 at 1:40pm

we received our lease renewal early also. leased to chevron ,wasn;t due until june. we are in marshall county wv.  cameron district.same price as originally paid.

Permalink Reply by Booger on December 30, 2015 at 5:46am

yes - got mine Christmas eve stock twp.....also not due until mid april

Permalink Reply by ray schmidt on December 30, 2015 at 7:16am

nice.hope to get mine too.its a nice surprise to get it early.dont live in area so maybe taking longer

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