Should we know if our lease has been sold?

We have some mineral leases in Washita Oklahoma with Chesapeake, they will be up for renewal in 2014 - assuming they are interested in renewing them when they come to term. With all of the selling of assets by Chesapeake lately in the news I was curious if our leases had been sold, if they had been would we be notified, if not is there a way to find out and finally is this important information for us to have?

Steve:

I would guess that there is a good possibility that your leases have been sold during the past actions of Chesapeake but you would not have been notified. I would not worry about the current lease holder and focus my attention on the expiration dates of these leases and educate yourself on any activity in your immediate area so you will be able to make proper negotiations at the termination of your leases.

As far as I know, CHK has not sold any of their Washita acreage. Not only that, they are still actively leasing in the county.

That said, if you'd like to provide me with the Section-Township-Range, I can give you a little more information.

We have interests in La Salle county Texas and sometimes find it is difficult to find out current events and find out after the fact. If you have a suggestion of how to find out information in a more timely manner, I would love it.

No, you would not be notified before the Assignment unless the Lease required "Consent to Assign," which very few leases do. You can find out whether or not the Assignment was filed by doing a search in the property records for the County in which the minerals are located. However, just because you don't find anything there does NOT mean that the Lease was NOT assigned. It is not unusual for a company to file the Assignment in the public record many months after it was executed. I would say that if it were assigned it would be important to have that information, yes.

Thank you for the information but it just again shows how frustrating this can be. I like to know what is happening and not find out months later it was sold. Any other suggestions of keeping up with what is happening?

I can confirm what Jordan says about them not selling their Washita acreage - they are still quite active there. You most likely won't get a notification if it is sold, but if a well was drilled, you can look here: https://apps.occeweb.com/RBDMSWeb_OK/OCCOGOnline.aspx

to check on the status of the well(s) and it will show who the current operator is (ie. Chesapeake).

If you have trouble navigating that page, or are looking for something else, I would be happy to help.

We have mineral rights in 11N-16W-26. We also have some rights in 11N-15W-29 if that helps. Thank you for your time and help.

Jordan Murray said:

As far as I know, CHK has not sold any of their Washita acreage. Not only that, they are still actively leasing in the county.

That said, if you'd like to provide me with the Section-Township-Range, I can give you a little more information.