Company trying to buy mineral interest from a nonparticipating mineral owner, what happens and how big might the well be (Harvey #1)?
I own non-participating mineral interest in Shelby County and up until a couple of months ago I didn't even know that it was a part of my families trust. I was contacted by a company wanting to buy the mineral interest. I'm not interested in selling but really curious about why they are buying the majority of interest like mine in the survey. I believe they might be buying for Chesapeake since I researched and found that they have assigned leases to Chesapeake in the past. By looking at county records it looks like a lot of people have sold their mineral interest in this survey.
My question is since the well has been drilled and the unit declaration is filed with the county, how and what should I do to make sure that Chesapeake has my information for when royalties do get paid?
I have been reading on this site about the well and trying to gather information. It is the Harvey #1 unit. I finally drove to the location in July since my curiosity was getting the better of me. They had holding tank and gas lines there. It didn't look connected yet. They had a water tank which looked like it was very new and full of water. This made me think that they might drill again either on the same pad or nearby.
Unfortunately other family members just signed and got their money without really thinking it through. They figured they didn't even know about it before and it's just money being handed out. I'm more of the why are they wanting to pay this amount, what's in it for them, kind of person.
Sorry my thoughts are kind of scattered but all this stuff floating around in my head makes me dizzy!
My question is since the well has been drilled and the unit declaration is filed with the county, how and what should I do to make sure that Chesapeake has my information for when royalties do get paid?
I have been reading on this site about the well and trying to gather information. It is the Harvey #1 unit. I finally drove to the location in July since my curiosity was getting the better of me. They had holding tank and gas lines there. It didn't look connected yet. They had a water tank which looked like it was very new and full of water. This made me think that they might drill again either on the same pad or nearby.
Unfortunately other family members just signed and got their money without really thinking it through. They figured they didn't even know about it before and it's just money being handed out. I'm more of the why are they wanting to pay this amount, what's in it for them, kind of person.
Sorry my thoughts are kind of scattered but all this stuff floating around in my head makes me dizzy!
Views: 20
Replies to This Discussion
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Permalink Reply by king john on -
kat, this kind of thing happened to a friend of mine named jack. i was familiar with the operator and supplied him with the royalty owner hotline telephone number. ido not have any bussines with chesapeake so do not know their number. if i were you i would put a shout out for anyone on the website receiving payments from chesapeake and ask them for the royalty owner hotline number. once in contact it takes a while for things to progress. better to be pro-active in my opinion.
kj -
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Permalink Reply by adubu on
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Chesapeake has a royalty hot line 1-877-CHK-1GAS. They can answer your question or direct you to some one who can. In general you can go to the web site of any public listed Oil & Gas Co. click on invester relations or royalty owners and obtain contact infomation.
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Permalink Reply by Jimmy on
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Yeah, here we go again. Does everybody realize why this website is here? It is because of the magnitude of the shale. With that in mind, dont allow these companies to take advantage of the economy and slap you with a low offer. Do not let people rob you of your assets, they are yours so dont give them away.
Our family has seen the complete contrast with their offers: from 300 per acre to over 5000 per acre on the same tract! Remember, commision is the salesman's game and jets are the corporate taxi. Dont settle for a new couch while sending these companies to Tahiti for a meeting to talk about your gas wells. -
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Permalink Reply by easttexas12 on
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CuriousKat,
My advice to you is to get a consult from an attorney in Center. Don't sell your minerals, lease them out. Don't mess around with this. My two cents.. -
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