Well I just had to show its possible to do and without a attorney… I inherited some land and minerals that CHK had been producing last 7 to 10 years this lease was signed back in 44 and wasn’t favorable to me at all… Anyway after a year of badgering with emails and calls weekly and sometime daily today I received a complete release of lease for the section today… This has been hbp for years basically producing somewhere in neighborhood of about $300 a year in gas… The help I have received either directly or in directly from posts is greatly appreciated…
And since I received it I have contacted 2 different producers who are active in area and both are interested in the section… God is good!!!
Robert
I remember you posting about this. The lease was in Beaver County, correct?
Do you own all of the minerals under this section? I could very well be interested myself.
Congrats on the good work!
Jordan
No the lease is in Texas county but is within a couple miles of beaver county where there seems to be a substantial amount of activity… Within 5 miles in last couple months I have seen least 5 or 6 drilling rigs prob higher than that but just a guess and I know of at least 4 pads built waiting to be used…
I have been payed by CHK on120 acres on this section, but when I started asking questions on my mineral acres owned is when I started getting action on plugging and release… By what my grandfathers will which was probated through court in texas county shows I own 460 acres in this section(least way my simpe mind understands it) so not sure exactly… It’s been relentless on my part on hounding them but I want everyone to know if you get ahold of right people and stay father them some of these old crappy leases can get broken with some work and prayers…
Robert,
Congratulations. Your time and efforts paid off. Make sure a new lessee doesn't do the same to your heirs that was done to you. Set lease terms good for you, now that you understand how to protect yourself. Leasing companies have many new ways to hold acreage so be careful. With that much acreage in such a good area, a straight lease may not be the bed way to go.
Yea Gary I have learned alot… I will have to ask alot of questions as we go forward… what ootions are you talking about on a straight lease???
Robert,
Congratulations on your lease release from CHK. Now go get a good lease. Mr Hutchinson may be the person to help you with your minerals. He's very knowledgeable at this stuff.
Clint Liles
Robert,
Leasing companies and buyers try to turn mineral transactions into retail transactions using the lowest prices they can justify. The mineral owner doesn't' have to accept those average low ball offers and onerous lease terms if the owner knows what he wants and what the value of his mineral control may be to an operator that will spend the large, high-risk dollars in drilling and completion. Matching physical attributes and owner needs from a property with a company capable of exploring and exploiting is a better way to go for both parties in the long run. Since all deposits and operator capabilities are different, an average price can't be set. An educated seller matched with an educated buyer makes for fair transactions. Your situation is a prime example of what can happen in a deal if the parties don't look past the end of their noses.
I'll send you a friend request and we can talk options when I know more about your property location.
Gary Hutchinson
Robert Pritchard said:
Yea Gary I have learned alot... I will have to ask alot of questions as we go forward... what ootions are you talking about on a straight lease???
How about a 22 year lease ? Is that long enough to get anything done?
Gracie