Chesapeake is Assigning Portions of Interest

I got a letter from Chesapeake today stating they are assigning a portion of their interest in our lease with Jamestown Resources.  They just starting drilling the well last week.  What is the purpose of assigning?  They say all checks and communication will still be through Chesapeake.  Will this affect us in any other way?  Forgive my naivity, I am still a newbie.

Tags: Assignment, Interest, Portions, of

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Permalink Reply by The_Baron on October 4, 2011 at 9:41

thanks a

 

Aubrey has a deal that he can purchse a WI in any CHK well. Best part is he can wait till the well is alreadsy drilled.

Permalink Reply by Henry on October 4, 2011 at 13:53
I wonder if CHK pays Aubrey crappy prices for his gas.....
Permalink Reply by ledlights on October 4, 2011 at 16:26

LOL

 

Yeah - just to keep things on the up and up he's paid the same prices, but Aubrey makes it up... part of his contract allows him to use his own purchasing company... I hope I'm just kidding.

 

How is letting AMac cherry pick WI from the best CHK wells in the interest of CHK stockholders?  What the heck is the CHK Board of Directors thinking?  I wonder whether the amount of money that Aubrey will make off with will be roughly equal to the total amount that CHK scrapes from royalty owners with their pricing tactics.

Permalink Reply by JHH on October 5, 2011 at 1:18

Great question!  I'll bet he gets a cut from CEMI and then a little more after it goes to market... who knows.

 

Permalink Reply by JHH on October 5, 2011 at 2:10
Bottom line:  getting drilled and produced is a good thing.  but i'm wary of some assignments.  especially if they are given just to hold the property.  Drill/cap/drill/cap/drill/cap... you get the picture.  some leases (i'll admit rare) specify your written approval prior to assignment.  But... if you get production because company "A" can't get in there before the lease expires... assignment might be a good thing.  I'm sure there are other good and bad reasons for assignments.
Permalink Reply by Lerret on October 6, 2011 at 5:47
Did anyone bother to check where the address of Jamestown Resources puts you except right in the middle of the Chesapeake Energy campus on N. Western in OKC?...that's just a hint
Permalink Reply by Skip Peel - Mineral Consultant on October 6, 2011 at 6:07
Yes, last Tuesday,  In this discussion thread.  Check the first page.
Permalink Reply by James W Funk on October 7, 2011 at 9:07
The mailing and b usiness address furnished by Skip Peel are of the Land Office of Chesapeake, so obviously related.   Have been wating for a lease payment by Chesapeake that was due on Sept 23 and I traced them back to this address.

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