Oil & Gas Pro

CHK Release of State Leases In North Caddo and North Bossier

Chesapeake recently filed this release with the Clerks of Court in Caddo and Bossier parishes for 27 state leases obtained through the state mineral auction by Classic Petroleum in 2008.  Chesapeake declined to pay the required bonus to extend them beyond their one year term.  I did a brief review for those wholly or partially in Caddo Parish, the leases covered ~ 3,760 acres and Chesapeake paid a little more than $12,500,000 with a per acre bonus average of ~ $3300.  All were for a quarter royalty.


CHKReleasesCaddoBossier.pdf

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landownerPermalink Reply by Bobi Carr ("parker") on February 23, 2010 at 17:39
Got to be careful on the net about assumptions!!

Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on February 23, 2010 at 17:44
trish, I enjoy being spoiled. And I just bought this 24" High Definition monitor. It's a little too large and heavy to do much in the way of rotation. And yes, parker is accommodating but she is hardly a "guy". LOL! As to your marriage proposal, I think you should give it further thought. Double LOL!

landownerPermalink Reply by Bobi Carr ("parker") on February 23, 2010 at 17:45
Trish,

Skip's single. You might try your luck there.

Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on February 23, 2010 at 17:50
Now I'm Really confused! LOL!

landownerPermalink Reply by Bobi Carr ("parker") on February 23, 2010 at 17:53
Trish,

You might want to fess up or lose your chance at Skip.

landownerPermalink Reply by Bobi Carr ("parker") on February 23, 2010 at 17:54
If your a landman but a woman that may make it even more confusing.

landownerPermalink Reply by Bobi Carr ("parker") on February 23, 2010 at 17:57
So if you and Skip get married will Keith be able to do the ceremony?

Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on February 24, 2010 at 2:19
Thanks. That's a relief. LOL!

landownerPermalink Reply by sesport on March 6, 2010 at 2:48
She bolted on ya, Skip. Cold feetum, post deleteum. lol

Oh, and a question ... $3300/acre seems low to me for what was happening in '08. Is it more common than not for $/acre bonus for public lands/minerals to be lower than that for private land/minerals?

80)

Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on March 6, 2010 at 3:19
I was rare in 2008. You'd have to review each lease but I would bet they were taken early in the year.

landownerPermalink Reply by Shaleeee on February 24, 2010 at 8:42
Does releasing these acres mean that they would not be a good risk? Or has info shown this would not be profitable? Why wouldn't CHK sell these acres to another company instead of taking a huge loss? I do not understand!!!

landownerPermalink Reply by Spring Branch,mineral owner on February 24, 2010 at 9:43
Because of their location, and the fact that there is no such thing as a paid-up State Lease, they will be released by CHK so they don't have to pay the annual lease bonus and possibly leased again by Chesapeake or another Operator on much more favorable terms, as in cheaper!

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