Its finally here. Chesapeake charged me to take my gas. The price they paid me on some wells, mainly in the Barnett shale was a negative $0.20 to negative $0.32. wow what crooks.
Do you have a lease? Depending on the terms, your lease has terminated for failure to produce in paying / commercial quantities. Agree with last statement.
Can't argue with anything that comes out negative on Chesapeake since they seem to be doing what they want in most every case; however, many if not most companies would probably be doing something similar if there isn't a provision in the lease covering your right to take or use gas. I have had a provision in my leases for years; but, haven't had any wells, so the issue never became an issue. With that said, even with that lease provision there are many issues where they can charge us unless there is a very well written clause covering every aspect of how it will work in detail. This includes who pays for our metering, maintenance, and what we have the right to do and not do and what liability we might have. Plus, if we happen to be the only mineral owner in the well/pool, the overall issues of charges are considerably less; but, if we are just one member of a large pool, then there are other mineral owners that come into play. Good Luck!
They also did it to me in Oklahoma, they also went back 5 years on wells changing the price they are paying me on oil, gas and other products. Not certain yet if it's worth suit or not. Looking at their financials they are fighting off bankruptcy which as of now is in their future without at least considerable change in nat gas prices.
Ask around and see if a class action suit is possible. I have no production with CHK. More than likely they have their bases covered.
Try following this story, maybe it can help on your direction.....
Texas Royalty Owners Win $52.5 Million
Chesapeake Energy and Total E&P Cheated Thousands
I was recently told by someone at the McDonald law firm in Fort Worth that the deadline has passed to join in on their lawsuits against Chesapeake.
Mikie Byrd ... have you asked them about this?
Has anyone had any issues with PetroQuest?
I own some mineral rights in Oklahoma, too. When you said they went 5 years back and changed the prices, did they come back to you and ask for some money back? I have a certified piece of mail from Chesapeake waiting for me at the post office to pick up. I don't know if that is a good thing or a bad thing.
This is the first time I have ever posted on this site, so I don't know when I will see a response from you. Thank you for any information you can give me.