Cheasapeake Making more Friends (NOT)

There seems to be a trend developing with Cheasapeake. First they backed out of a deal in Keithville then said they would pay. The Greenwood Deal now seems to be a big maybe even with Drafts sent out by JPD . Now Cheasapeake is telling JPD to extend to JAN with stipulations added. Now today on TV-12 they have been caught again changing an offer from 15k to 5k. This is the company that has been advertising non-stop on radio and TV about how they want to blend in with the community. What is next for Cheasapeake? They are setting themselves up for a public relations nightmare in this area with Deals like these. I doubt people will forget this sort of thing. I would use MUCH caution when dealing with this company after seeing what they do.

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Permalink Reply by Martin on October 28, 2008 at 11:09
Mr. Marsh --
A group with one of the more senior rights to whine would be the Native Americans/indians who sold Manhattan. The most senior right to whine would be the Native Americans who failed to set up an immigration policy in 1493. This ranking is strictly limited to the New World. Other regions will probably have even older rights for whining -- the crusades, the Chinese attempted invasions of Japan -- way back in the day and the origin of the term Kamakzie. (sp?)

I think you're right --- these folks made the decision -- now live with it. So long as there is no evidence of criminal action, you haven't got a choice. You already made it. I know people who were looking at a million + lease bonus offer and 25% royalty in mid summer. They - all two of them - turned down the offers because they were holding out for the $25,000.00/acre offers in Bossier Parish. Well, not for a few years yet, if ever.
Permalink Reply by stroud on October 28, 2008 at 14:07
gas company drills a "i got you well" a vertical well makes 500k gas a day, they spend $2.5m get some production, off set some cost.... HOLD section almost for EVER..........lots of unhappy people.......the 183 acre guy will someday, maybe pay of his well cost share years from now maybe, trade hard but never let the nice man with the money leave with his money.
Permalink Reply by Snake Stewart on November 2, 2008 at 2:48
Sure did see a lot of CHPK signs around the animal huts in the petting zoo at the State Fair. I wonder if there was a subliminal message in the music for the horse show ? There was a big sign right beside the oil derrick statue that talks about the discovery back in the late 1800's.
It makes sense tho , because who else could you really think of right now while you are scratchin a goats hind-end besides CHPK. HA!HA!HA!
I dont care who you are , that was funny !
Permalink Reply by Jim on November 5, 2008 at 7:57
My wife and I are land owners in Keithville that signed a letter of intent with Cheasapeake. Within 2 weeks of them backing out of the deal we recieved letters stating that the are going to force pool in our section. Can anyone give us information on what we can expect from being force pooled.
Permalink Reply by nisie, not a happy camper landowner on November 5, 2008 at 8:05
What township/section/range?
Permalink Reply by Jim on November 5, 2008 at 8:10
Johnson branch field section 26
Permalink Reply by Grillin' - MmmMmm on November 5, 2008 at 8:35
Potentially, lots of money!! but in a year or so's time! Which isn't bad, prices may be back up then. Hope that they hit a big well in your unit! If they do, you'll be able to get lots of folks to lease from you! Or you'll get to cash big checks!
Permalink Reply by The_Baron on November 6, 2008 at 4:46
They may still come to see you before they drill, check SONRIS to see if they have permitted a well yet.
Permalink Reply by The_Baron on November 6, 2008 at 4:48
Search this site for "force pooling" it has many pros and cons. If you are not knowlegable of the oil buisness, I would suggest trying to lease.
Permalink Reply by Grice on November 6, 2008 at 5:02
Attend the public hearing, with your copy of the LOI in hand. From what I comprehend of the Louisiana pooling law is that the company must make every attempt to lease the property before the commissioner will force pool the unleased properties. If you can prove where Chesapeake had formally intended to form a lease agreement with you, you may be able to force Chesapeake to honor their end of the deal. If you are unable to attend the hearing in person, at least call (or send a letter) to the DNR, letting the commissioner know about the LOI.

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