I’ve gotten my annual check for $35.00 on my interest in Sec 34, t13N,R10W. All four sections that surround our section have had Devon drill multiple horizontal wells and they have all produced very well. Chesapeake is doing nothing on our section. How can I get them to release the lease if they refuse to do anything?
A single mineral owner may have trouble getting action. You can band with other mineral owners and start sending certified return receipt letters demanding that a prudent operator would be developing the acreage. Not sure it will help much. Chesapeake has other issues at hand. They may not have the money or desire to drill there. If you have a shut in payment, they may be fully within the law of the original lease contract which allowed such a payment.
Yep. I like to limit the duration of shut in payments as part of the lease negotiation.
Cimarex drilled the Little 1-34H in 2009 and is producing from the Woodford formation. It will more than likely hold your lease, not the Chesapeake well, that looks to no be owned by Teocalli Exploration.
So, DougE, if you do receive a check from Cimarex, the well names will be on the check stub. If you are not getting paid by Cimarex on the Little 1-34H well, you need to be asking why.