Replies to This Discussion

Permalink Reply by Linda Whatley on January 30, 2011 at 4:58

Congrats!!!!!!!

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Permalink Reply by RBH on January 26, 2011 at 4:31

I am being paid by two operators for gas from the same well as one chose to take gas "in-kind". It seems that the gas price paid by one is averaging 20 to 30 cents/MCF higher. One of the large companies statements is next to impossible to interpret what ownership they are paying and on what gas volume. 

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Permalink Reply by w.r. frank on January 27, 2011 at 5:41

I have been told by an attorney that CHK elected to take gas "in kind" on a unit drilled and operated by HK and that the NG price/mcf paid by HK to its lessors was much higher that the NG price/mcf paid by CHK to its lessors. CHK is probably selling to its affiliate. This will all be sorted out when enough CHK lessors retain counsel and litigate. CHK will not, IMO, be able to sustain their position against a strong "no cost" lease clause and LA. law on "duty of lessee."

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Permalink Reply by JHH on January 31, 2011 at 14:19

I have a chesapeake well that pays 50 cents to a dollar less than other wells in the area.  I called Chesapeake and was told the gas had a low BTU value.  So i asked... so we have bad gas?  was told no... that other factors were at work as well... pipeline charges and other things. In Texas, producers can not "net out" charges/deductions from the price of gas they sell on the market.  There's a statute. All charges/deductions must be listed on the check stub.  Only deductions i have are for taxes.  Also did some checking on the BTU factor and it was about the same as other gas from other wells nearby.  Chesapeake did admit... as stated on stub... it sells the gas to its subsidiary and "promised"... "assured" i get the same price for gas they sell it for.... less than $3!  Need  help on this.

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Permalink Reply by Parkdota on January 31, 2011 at 10:37

Thank God this post was started.  We had planned on taking the 15% but there was some confusion about gross and net.  This is going to save me a ton.

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Permalink Reply by Jeff on January 31, 2011 at 14:54

I think many of us learned a lot.  I know I did, and got the answers I was looking for in the process. 

I got my 1099 from JW operating today and it does list the gross as the amount reported to the IRS.  They also do a fair job of listing the deductions and net revenues. 

Jeff

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Permalink Reply by Linda Whatley on February 2, 2011 at 3:58

FYI:

 

Anyone trying to get in touch with Chesapeake to find out what their 2010 gross royalty amount is will have to wait till the bad weather is over in Oklahoma.  I called them this morning, and they are closed!  And, I couldn't leave a message either!!!!!!!

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Permalink Reply by Polly Ann Foote on February 5, 2011 at 9:15

Robert,
In cleaning out old computer files, I came across a discussion from 2007 between someone leasing from Chesapeake on another website. Their acreage was in the Fayetteville shale area in Northern arkansas. The "expert" read her lease, some parts of which he thought were horrible. He suggested clauses she could add which would protect her. I have that discussion and would be glad to email it to you or mail it if you prefer. I think it is too long to publish here and i am not sure others would think that is a good idea.
p

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Permalink Reply by Robert Griffin R on February 6, 2011 at 3:34

Polly,

Please email the lease info you mention to me at bgriffin333@gmail.com.

Thanks, Robert

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