Another member wanted me to post this...

"most recent offer from Petro is $7,500 bonus per acre, 25% royalty, 3/2 terms. Keep in mind, though, that Chesapeake back-doored Petro by mailing offers directly to our homeowners. Petro has so far only approached the Association to lease common areas of the neighborhood.

Petro has assured us that they WILL be drilling our section, while Ches. reps wouldn't commit to such a statement, leading me to believe they only want acreage.

Of course, we have landfolks for both companies living in our 'hood, so that's what cranked up the competition."

Tags: chesapeake, petrohawk

Views: 26

Replies to This Discussion

Thanks for the information. Which Association are you referring to? Would you advise individual homeowners to contact Petro? I live in T17 R13 S19.
I have property in T17 R 14W (Dillingham Ave) and was contacted by Twin Cities about ten days ago. They offered $4000/acre for 20%, $3500 for 22.5%, and $3000 for 25%. I didn't learn many other particulars because I wasn't sure what to ask and they weren't volunteering much. I haven't responded. My homeowners' assn contact told me that Twin Cities and Petro (?) were picking off individuals and aren't bargaining collectively. I guess I will bide my time, although an infusion of cash would be nice at this point.
Thanks for the info. I'm on Time Place, and we have yet to hear from any company. I assume we are in the same homeowners association. The only one I've had contact with is the ShreveCenter Coalition, and they have not been very communicative. Is there another association that we should be working through?
Gee, let me understand this....
I could sign with a company that withholds info, backs out of agreements, goes around the homeowner coalition, and treats landowners like dirt. Or, I could lease with Petrohawk. Looks like a no brainer to me.
Keith, what sec. t/r was this $7500 an ac offer made for in south Caddo
Keith,
What's "3/2/terms", please?
3 year lease term with a clause allowing for a 2 year extension based on a set per acre price.

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