Being part of a 640 unit is crap for the folks with small acreage. Its all a pyramid scheme. We all joined in this thing together to make money together...at least that's what the feeling WAS. I remember when the first checks were given out, many Shreveport natives boosted the economy for this area by shopping for big ticket items like cars, houses, etc. in hopes of getting more and better checks. But what did Chesapeake do? Send out Div Orders with stupid decimal points in the writings, such as .00003 for example. A lease in the beginning stated that the mineral owners would receive 25% of monies made. The Div Order to be signed states different rhetoric with that decimal crap. When I asked Chesapeake where did they get those numbers from, they answered me back with, "It's something we made up."  Mineral owners are treated like the enemy. What if Walmart was in this situation? They own the merchandise, but the only folks who make the real money are everyone except Walmart, (except mineral owners). Doesn't make sense. Try doing the math with screwed up numbers such as .0003 and see what you come up with. A bunch of zeros after a decimal point adds up to horrific under payments made to the mineral owner, the ones who own the product. And where are the guys in my 640 unit who own tons of acres and made nearly a million dollars? would be nice if they shared their profits with us guys making 80 dollars to 500 dollars a year. I signed up because I knew it would benefit those with small acreage as well as those who own large acreage. My neighbors are in shock and most folks are embarrassed that their checks aren't more lucrative  after receiving their initial payments of thousands of dollars, now we all get hardly anything. So much for boosting the economy for Shreveport. 

Tags: 640, chesapeake, division, law, mineral, order, owners, payments, pyramid, rights, More…scam, scheme, suit, unit

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Lee,

I hope to goodness that this is a fake question.  I've looked at the majority of comments made by you in this discussion and I feel sad for you.  I would strongly suggest that should you ever be asked to sign a lease again you seek out a proper authority so that you can discuss all aspects of the lease and pricing.  The burden is on you to make sure that you understand the lease and that you do the proper research prior to evaluating any counter offers.

You are attacking an industry which you willingly (and probably excitedly) entered when you signed the lease.  Your uneducated agreement to the lease is no one's fault but your own.  No one forced you to sign and you could have discussed any questions with knowledgeable people beforehand. 

Please don't take this as an attack, rather a come to Jesus discussion on how important adequately understanding the commitment and ramifications of that commitment is to the future happiness you enjoy.

Thank you BF and well said.

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