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Comment by Brandon on December 18, 2009 at 13:39

Chesapeake Energy gave us an offer of intent to drill natural gas on our land which is part of the Haynesville Shale. We were paid two checks, and within in a few days of the third check we received the same letter saying they do not wish to move further with the intent to drill. At the same time they were not asking for any of the money back at that time. After making some calls, it had a lot to do with the fact that the price of Nat Gas was low and the economy was out of control. I guess my question now is, with all the talk about natural gas being the future of this county and the price now abouve $5, dose that mean Chesepeake will try and come back or are we just hanging in the wind? If not, what else can we do to get something going with another company? Honestly I think Chesepeake still holds the lease on our property but not sure. Any advise would be great.

Oil & Gas Pro Comment by Skip Peel - Mineral Consultant on December 18, 2009 at 6:27

Brandon. I am unsure of just what you are asking. The O'Neal letter and your comment that "we were paid last year partial ...." do not make sense taken together. I'd be happy to give you my opinion but I don't understand your situation.

Comment by Brandon on December 18, 2009 at 6:12

My family received the same letter. My only concern is that we were paid last year partial of what was agreed to be paid to us. Our letter let us know also that the company is not asking for any of the payments back at this time. I did a little calling around and was told that with the price of nat gas being so low and the economy being the way it is, that it would take some time to get things rolling again. My question is, should we expect someone or a company to come and begin to drill on our land in the year to come, or are we just hanging in the wind? Also, who would we be able to contact about this, would it be the landman that we worked with before, or should we go directly to the company that leased the land?