talk to landmen working for HK CHK XTO DVN All lease active is on hold for unknow period of time. All draft have been stopped on present deals, will not be paid and these lease will terminate at end of draft time period. They have cut production money. However the good news is they will continue to drill the leases they have which is enough land to drill for the next 20 years

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got this from a 10/10/08 announcement on their website. They can't/won't walk away. Note the increase in rigs for the Haynesville and the average production from wells in Keithville [Johnson Branch]:



Haynesville Shale: Chesapeake now owns or has commitments for approximately 700,000 gross acres (480,000 net acres and excluding 120,000 net acres owned by the company's 20% joint venture partner Plains Exploration and Production, Inc. (NYSE:PXP)) in the Haynesville Shale play in northwest Louisiana and East Texas, encompassing approximately 20% of the estimated 3.5 million acre play. On this leasehold, the company estimates that it has 14 tcfe of risked unproved reserves (29 tcfe unrisked). Chesapeake now has 16 horizontal Haynesville Shale wells producing approximately 65 million cubic feet of natural gas equivalent (mmcfe) gross (50 mmcfe net). The company's last six horizontal wells have had gross average initial production rates exceeding 10 mmcfe per day and the company has gained even greater confidence in its average estimated ultimate recovery estimate (EUR) of 6.5 billion cubic feet of natural gas equivalent (bcfe) per well. Chesapeake is currently operating 14 rigs in the play and anticipates operating an average approximately 25 rigs in 2009.
Look, It is true that the bigboys have let it be known that they have stopped leasing new acreage, They are concetrating in areas they have significant leaseholds in, But do not worry there are plenty of other Companies out there that have been sitting on the sidelines waiting for a moment just as this, Now mind you for the forseeable 4-5 years or so ( unless something drastic happens before then) the days of $25k,$27k, upwards of $30k or so per acre prices are gone, these companies will not pay that, but they are willing to pay fair prices, and noone will get "cold-drafted" I deal with those companies that are activley starting to seek out those deals. so dont worry there are others that will fill in the Voids that are being left behind by the bigdogs, Oh and by the way Mr. Brannon Chesapeake can and will walk way if it effects the bottom line, why do you think just two days McClendon sold his stock in Chesapeake, if the leaseholds that they have are not being developed at the time of expiration and will not be in the forseeable future Chesapeake as all of the others that have enough acreage to drill until the second coming and beyond they all will walk away and let any and all leases expire, it is just that simple, and if you are in the draft period with them, and they are not drilling within 10 miles of you , and these companies looking at the bottom line as hard as they are now, you bet your sweet but that will walk away, right now it boils down to pure and simple economics, they all did it out on the Barnett Shale, and they will do it on the Haynesville
Hey Jerry,
They havent stopped leasing new acreage.They just arent advertising it.
In my part of the country we havent seen much of the "big boy" action yet.$12,500 is the most I have heard of and several of those got backed out on.In your professional opinion, why would a "smaller company" low ball offer be better then a "big boy" low ball offer ,when the big boys can drill horizontal and give you the better chance of the "big" royalty check dreams that the smaller independants try to live by?
Whats another 4-5 years ,if it were to take that long, when I have already made it 42 years without it?
A deal like the one these smaller guys would bring could differ in the tens of millions for our group.
If it is going to take another 4-5 years in the center of the current boundaries, then N/G may not be as important as we have been led to believe and thus have to question the reasoning for the increased investments in N/G.The big boys have created us monsters and many of us arent going away.I will be more then happy to lease my shallower depths to smaller companies once my Haynesville has been leased.Unfortunatly for smaller companies, the big boys have taught me not to trust any of them so a great deal of skepticism would keep me from any other type of action.
Good luck and have a great day.
Because they do not have the logistical constraints to drill on the acerage , they have the ability to move faster, those companies do not have the commitments to drill Millions of acres, Look Chesapeake put the statement out on Friday Annoucing that by the end of "09" there would be up to 29 rigs on the haynesville, CHK leasehold is pushing over 700k acres, with 620 acre spacing an average drill time of 3 months, do the math, yes, you and 1000's of others in Louisiana have lived without Drilling for years, But the Fact is That you and your Neighbors and everyone else around you are actively looking Now!! The bottom line is that you and everybody else that owns minerals in West LA, And East TX want those minerals drilled and the faster the better, 25% per month of 3 MMCF,5MMCF, 10, 15 and so on is allot of damn money, the bonus money is nice, but the real money is those assets being drilled, and the sooner that happens for you and your family as well as everyone else around you the better everyone will like it. Snake what the reality is now and the appearance of it are 2 total completley different things, I assure you what ever activity is going on will quickly slow down or cease all together
A well by any other name doesnt make it a good well, or by a good operator.I understand your premise of the slowdown/halt.I do not however agree in principle with your thinking that I would be better served to accept inferior monies and practices from a smaller outfit concerning the Haynesville Shale and my future as an oil and gas baron.I am not angry but I must write this next piece in bold so please do not take offense from a personal standpoint.

You will only have one shot at your first lease and probably your only lease on the H/S. You had better get it right the first time!

Huge difference between appearance and reality ! It may appear that me and my family are desperate to get a well drilled in our area when in reality we certainly are not.We havent starved yet as most can attest by my girth and we will continue to do just fine.My family is blessed and have a chance to be even more blessed by this opportunity.It shouldnt be looked upon lightly by anyone.My mother raised a fool , but he is several years younger then myself! We will make the wisest decission that we can as a group and that does not include getting antsy about being left out in the cold on the largest N/G field in the U.S., even if things have to slowdown for a while.Not a problem for us.We are not depending on the H/S for our existence.Maybe an earlier retirement but my hottie wife will still probably make me get up and go to work even if we had 3 PHK EGP #63's in my backyard. HA!HA!HA!
Have a good one!

P.S. It may take your guy's 3 months to drill but that certainly isnt the average around here.If they are stupid enough to lease more then they can HBP , they need to go out of business.I guess we will be sending them a bailout check in 3 or 4 years as well.
Snake,

I am just curious about something in your last comment on our previous discussion, " inferior monies" how does money become inferior? Look I do understand your process, but the reality is what it is, everyone on the H/S can wait for CHk and the like to come back around and pony up the huge amounts per acre that they were dishing out, and as you stated you and your family may not be desperate to lease and that is fine, but the question still remains do you want to lease the minerals to just lease it or you do you want the minerals drilled?, you know as well as anyone else knows on the H/S that the real long term money for a family is in the revenue generated by drilling, Let's say that you and others in your present position get a company like chesapeke, petrohawk, shell, xto etc. to do a deal, they all have 100's of thousands of acres before you, the leases expire, and they don't come back to re-up on the deal, No drilling has taken place, and everyone else around you that went with inferior monies as you put it has wells producing for their minerals, and they are getting their monies worth over the long haul because they got thier stuff drilled, Snake, I have been in this game for years, and have seen mineral owners with the same mind set here on the Barnett Shale, and yu know the prices that they wanted a number of years ago they still want now, and no-one wants to talk a deal, and their nieghbors and friends are getting serious checks from their royalties every month and have for years and will for years to come, It is just that simple, and part of that reason is the srge into the H/S and other unconventional shale plays that are being developed now, There is always known formations that technology will be able to recover sooner or later, ad then it will dry up as far as leasing activity goes, then all that is left is the "Inferior monies".
I will try trhis again!! Has anyone heard of Petrohawk drafts being no good now??? Got it wenesday ....
You need to call them.
I was wondering the same thing about JPD Energy/CHK we got ours Last Sat.
The Land Man I talked to yesterday, said all was good with our CHK 25 business day draft
So my advice is to call your Land Man to confirm
gas baron,
our group is waiting for our offer from chesapeake,and they are using a reresenative from jpd i guess as a go between guy did you get an option on wether to accept a draft or a check?
No Option
We where informed weeks before we signed that it would be a Draft
JPD/CHK also added $20 to everyone's Draft to cover the Cost of it
No no option... it was a draft and I guess I am just not a demanding personality Else I would of heeded all the advise here on this wonderful site we have going to take check in hand ONLY and RUN!! Well thanks for the replys...I will call

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