Chesapeak sold expired leases

Has anyone else noticed that Chesapeak sold most of their leasehold in ohio to Encino. Our Columbiana county records show this happened on 11/8/2018. I had a lease with Chesapeak but it expired on 10/09/2018 but my name is still included in the sale of leases to Encino. How can Chesapeak sell expired leases. I know there was a lot more people that signed leases at the same time I did so there are a whole lot of expired leases that got sold to Encino. I wouldn't think Encino would want to pay 2 billion dollars for a bunch of expired leases.

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Permalink Reply by bo boboski on November 28, 2018 at 3:48pm

They may be expired; but were those leases released at the recorders office? Do they have the option to extend?

Permalink Reply by Jim Pollock on November 28, 2018 at 4:20pm

I called Chesapeak and the guy agreed my lease is expired but my name is still included in the list of leases that were sold. The guy from chesapeak said he was going to issue an order to release my  lease. There are a whole bunch of names listed with the sale of leases to Encino but I know a lot of these people signed the same lease I did and would also now have expired leases. But wouldn't you think Encino would be upset that they bought a bunch of expired leases? 

Permalink Reply by Magnetron12 on December 15, 2018 at 3:02pm

I believe 100 million of the purchase price is being escrowed to cover situations like yours.

Permalink Reply by Gary L on November 28, 2018 at 6:47pm

Sounds like they have big plans on the horizon.

https://www.spglobal.com/platts/en/market-insights/latest-news/natu...

Permalink Reply by Poison Ivy on November 29, 2018 at 7:32am

Our lease with Chesapeake expired in april of 2018. I have called once a month to Chesapeake to get a release. At first they said they would forward my request. Nothing happened. Then Chesapeake said the reason it wasnt released is because I was supposed to put it in an email. Which I did. Now its almost December and we still dont have a release. I wasnt aware of the situation Jim Pollock mentioned. Thanks for bringing it to my attention. And thanks for the responses from everyone else.

Permalink Reply by Dott on December 14, 2018 at 12:42pm

Jim

Its possible that when Encino signed the 1st papers to buy your lease was not yet expired and Chesapeake was selling Everything. I am sure Encino was aware of this and it was just part of the deal. Also Encino now has all the information on you in case they want to lease your property.

Permalink Reply by Donald on December 15, 2018 at 3:31am

has anyone with expired leases been able to get a release? I have tried with no success. 

Permalink Reply by Dott on December 15, 2018 at 3:15pm

Donald,

A Lawyer can probably help you with that if the O&G is not responding.  Also call the State Office  where the land and O&G titles are kept and present your problem to them.  Maybe if you can show proof of your expired lease they will offer assistance or point you in the right direction.

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