Memorandum of Farmount Agreement

I posted this question earlier when my computer was on the blink. I will try again. Burk Royalty Co. LTD entered into this agreement with Chesapeake Exploration LLC effective 8-1-09 and filed in the Shelby County Courthouse on 9-23-09. This is a 26 page document covering leases held by Burke in the East Stockman Prospect and the Foster Prospect of Shelby County which seem to be given to Chesapeake..wells and all.
Does anyone know what in general landowners can expect from this transaction?...(as in knowledge of a similar transaction from other companies?) I assume this must be a common exchange for o/g companies? Burk has several vertical wells drilled and waiting on pipeline.


http://cc.co.shelby.tx.us/
This is the web page but I cannot post link directly to agreement. I can give instructions if anyone else is interested in seeing this info.

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Replies to This Discussion

Permalink Reply by NA on February 28, 2010 at 5:11
This is off in left field but is it common for a land company to do a farmout? I would think they are more inclined to stick to the standard assigment with a reservation of an ORRI.
Permalink Reply by H1 on March 20, 2010 at 7:14
Skip, can you help me to locate the document describing the agreeement between burk and chk:? I cannot locate it anywhere. I found the pleadings, but not the resolution document.
Permalink Reply by Skip Peel - Mineral Consultant on March 20, 2010 at 7:44
Use the link above. Go to Real Estate Records. Search by instrument number - 2009008392. The conveyance document is a Memorandum meaning it does not contain all the details of the transaction only those required by law. It's 26 pages and does list the leases covered in the Farmout.
Permalink Reply by H1 on March 20, 2010 at 10:16
Thanks skip. Got it. Found out we are included in the agreement. This memorandum does not give the time frame allowed. It says it is given in the "farmout agreement". Is there any way to get the farmout agreement?
AND what exactly does all this mean?
Permalink Reply by Skip Peel - Mineral Consultant on March 20, 2010 at 10:22
No. This is all that will be entered in the public record. I'd have to consider this a positive turn of events for the future development of your minerals. Good Luck!
Permalink Reply by DJG on January 6, 2010 at 8:56
If you are currently a land-owner with a lease HBP by Burk, then this news about Chesapeake would be certainly welcome. CHK will have the ability and finances needed to be able to develop these prospects properly with horizontal completions.
Permalink Reply by Lorissa Gail on January 6, 2010 at 10:14
Thanks everyone! When I first joined this site I was needing info on leasing a piece of property. Luckily, in the process of becoming informed I discovered another piece of land was already included in a well being drilled. This well currently has not been unitized or pooled. While poking around on the rrc website, I happened to notice that on the plat my propety was listed. When I talked to Burk, they said that at the first of the year I should be getting division orders but probably it would come from Unit Petroleum who did the drilling. I guess I will just have to cool my heels for a while a wait. At least I have a place to keep me informed about what is going on in the industry.

It also shows me how easily it is to keep land owners in the dark, as I had not heard from any one that drilling affecting my property was in progress.
Permalink Reply by Phillip Crump on March 1, 2010 at 4:05
Lorissa, What well do you have an interest? mine is in the BUSH GAS UNIT (powers Survey.
Have you got division orders if so were they from Burk or Unit Petroleum?
Permalink Reply by Lorissa Gail on March 1, 2010 at 6:20
Phillip, no division orders from the Pearson well yet! I am still waiting. I think they have finally hooked up to pipeline! There seems to be a lot happening in that neck of Shelby Co. Didn't they recently frac the Bush well? I know this weekend the trucks from Frac Tech were in and out of the Whiddon well site! (For those not aware, the wells are separated by a pasture) Let's hope there is a lot underground!
Permalink Reply by RBH on January 7, 2010 at 12:57
PER TRRC--Operator change from BURK ROYALTY CO., LTD. to UNIT PETROLEUM COMPANY for large area in Shelby county
Permalink Reply by Phillip Crump on February 27, 2010 at 15:43
I have royalty in the Bush gas well and would like to see Division Orders? for this well. That shows the percent ownership or mineral interest in the well for each person.
Permalink Reply by H1 on March 18, 2010 at 14:56
I would like to get the document, but cannot find it on the website. can you help?

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