Chesapeake Energy, a major operator in various shale plays in the U.S., appears to positioning itself to impact the Bakken area. This operator recently purchased Bronco Energy, who operates a total of 22 rigs, some located in the Bakken. Also, this operator is working to gain control over production by owning their own fracing compound, completion crews and rigs. This scenerio suggests that this operator will operate in ways which are different from most operators in the area. I understand that they will be acquiring leases in the area and with many current leases nearing expiration dates, top leasing could become a factor. I expect to see applications involving this company to appear over the ladder part of this year and into next year.
I am interested in obtaining a new lease deal on my mineral rights . My current lease expires in August of this year. What is the best way to go about finding the best options and prospects. Is auctioning an option??
Esther:
First, do your homework and find out the current bonus/acre amount and % royalty for your area. This could be done by contacting your neighbors who have recently leased, contacting land departments of operators leasing in the area or just creating a post on this forum whereas someone who knows the area could respond with a current rate. I have never dealt with auctioning as the only auction I am familiar with is the State auction which is held several times a year and involves State lands.
esther walker said:
I am interested in obtaining a new lease deal on my mineral rights . My current lease expires in August of this year. What is the best way to go about finding the best options and prospects. Is auctioning an option??