Chestnut Resources

Anyone familiar with the company?

Got a lease offer from them on smaller parcel we have in Belmont County coming off lease. No other offers in waiting and still a couple miles from closest production so agreed to terms.

Been 2 months and heard nothing from them. Nothing recorded and no replies to emails.

Granted everytime I call there there is always “someone new starting” or something going on. Wondering if this company is just a lease flipper - or are they actually leasing themselves? Do they actually pay ?

I recognize that research and recording can easily be 90 days. Quick search of property records show they hold 2 adjacent property leases (of 1 acre each) and bought 5 acres of minerals in Belmont County - but nothing else. Obviously not alot of NEW names popping up in the industry presently and the boom days of 2007-2012 have slowed in leasing deals. Just curious if I will actually ever see a dime from them - or if they are passing my property around hoping for a buyer - and if it fails to materialize just get a letter passing on the lease they agreed to?

Given the lack of response from this place - anyone familiar with other companies leasing in Western Belmont county presently?

Gulfport was active out that way - but hearing they are letting more and more expire. Too much on the books and not enough to develop it all already

by the website, they look like mineral buyers

So I did hear back from them…still on track. Partly on me for not re-reading and realizing closing is 90 BUSINESS days - not calendar days.

if they are leasing, find out if they have a company ready to take the lease. Be very careful of third party companies. Chestnut is not a drilling company. Hope this helps!

We are under assumption they do - likely the company who holds current lease that is cost prohibitive to renew. Could also be company who holds majority of neighboring lands.

Quick review of county records indicate they have bought a few and are holding them on lease with no transfer of interest yet.

I know they wont be drilling themselves - possibly looking to hold and resell this lease in a year or 2 in my opinion if not outright representing the current holder looking to secure a deal.