Replies to This Discussion

landownerPermalink Reply by Henry on April 26, 2011 at 12:19

Wasn't Twin Cities a leasing company for Chesapeake?

landownerPermalink Reply by Martha McWhiney on April 26, 2011 at 17:12

Yes and I signed a Primary Term of 3 years with an option to extend for 2 additional years. Well the 3 years is almost up and it will be time for me to extend my lease for another 2 years for the same amount that was offered to me when I first signed up.

landownerPermalink Reply by Martha McWhiney on April 26, 2011 at 17:07

Oh I'm sorry, I guess that would help some. The company is Chesapeake Energy .

landownerPermalink Reply by Spring Branch,mineral owner on May 1, 2011 at 10:32

Martha, for planning purposes, you should not be at all surprised if Chesapeake lets the lease lapse, rather that pay to extend it for two years.  There hasn 't been a single well drilled, nor permitted in 17/14 and Chesapeake is sending a clear message that with current gas price, they would rather spent their $$$$ in some of their liquids plays rather that outside the core of their pure gas plays as would apparently be represented by sections in 17/14, which is the City of Sheveport.  You will probably get an opportunity to lease again, but at a future date with much higher gas price.