It's about time to consider lease renewal with Chesapeake. Three years ago we signed with 2 year option for renewal. Do we have to renew or what options do we have since drastic change from three years ago? All suggestions welcome!
Suni

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Hi Randy,
Am I understanding correctly that you work for or formerly worked for CHK or Twin Cities?
If that is the case, could you tell where I can find out when and IF CHK is going to start drilling in the S14, T17N, R15W section? It was my understanding that they were going to set up a rig behind Brookshires on Jefferson Paige Road in Shreveport. I haven't seen any evidence of that yet. We signed in late August (and cashed their check!), and I am wondering how long they will take to start drilling. Can you help?
Thanks,
Becky
Isn't Brookshire's in section 13?
Look to see if any permits have been granted in that section. They may be wrapping up the leasing or dilling in locations where the leases are closer to expiring first.
I was told in the summer that there are plans to drill in our area by 2010.
Was this just rumour or guess?
This came from their office in Oklahoma.
Sounds good, good luck on your future well.
The option to extend is up to Chesapeake, not the landowner. The rate should be listed most likely in the attached addendum to your printed lease. (i.e. $1500 per net mineral acre).

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