They are just thieves in my book. I have figured out that in the Barnett shale leases CHK sells the gas to one of their subsidaries at an extremely low price and then the subsidary charges extremly high fees for deducts. This way the royalty owner gets screwed and CHK profit is way up. My last check CHK paid from $0.14 to about $0.24 per MCF. I have interested with all of the producers here and DEVON, EOG, and XTO all paid $1.00 or more after deducts. Even the smallest companies that pay the highest fees paid close to a dollar. Must be something different between the Barnett and Haynesville because my interest there was paid at $1.51.

Chk was sued for this very thing out east and lost. I am speaking with an attorney and would like others to join in. I would advise new comers not to deal with CHK if possible.

Views: 1297

Replies to This Discussion

I have to agree that CHK is doing little more than stealing. I have been in this business for over 32 years now. CHK PAID US .66 cents for May 2012 royalty gas production out of the Cornerstone North Unit in Tarrant County. The May 2012 Henry Hub price was $2.24 per mmbtu! Our minerals were leased by a previous owner but are subject to a very tough mineral owner slanted lease form which allows no post production well head deductions. The CHK CHECK DETAIL SHOWS ZERO DEDUCTIONS, probably due to a less than arms length relationship with an affiliated go between entity that supposedly is buying the gas from Chesapeake. Class action lawsuits involving this issue do not look like they have been ruled upon favorably in Texas in the recent past.

If an intelligent effort was made in this regard, we would seriously consider joining in such a suit.

I am amazed that various industry publications such as OIL AND GAS INVESTOR seem to glorify the so called accomplishments of CHK and their leader Aubrey McClendon. It is the American Way, we seem to always glorify people that make money no matter how dishonest they were in the journey. Honesty and integrity do not exist anymore!

CHK is not an honest citizen in our business in my opinion.

I totally agree with everyone that Chesapeake is a group of theives. I contacted them in the last couple of weeks related to the deductions from the Gross Royalties and they are playing a shell game with their affiliates to deduct enormous marketing fees for one affiliate, enormous fees for compression to another affiliate and yet more deductions to another affiliate for transportation. They would not even let me see the gross invoices for the services. I agree we should all ban together and sue Chesapeake. Include me in, as well as my brother and my sister.

RSS

© 2020   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service