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Permalink Reply by olddog573 on January 31, 2009 at 5:18

In this weeks Sabine Index they showed where Chesapeake had assigned leases over to PXP. Didn't specify which ones just that it had been done. It was in the Legal Notices for Sabine Parish section.

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Permalink Reply by P.G. on January 31, 2009 at 8:55

I wonder why they bothered?

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Permalink Reply by Grillin' - MmmMmm on January 31, 2009 at 9:03

CHK assigned 25% of all of their leasehold in the HS play area to PXP. I believe the exact leases and "25% of what" were described in the PSA that was signed by PXP and CHK. That would include an Ex A that lists the leases involved. The entry in the Sabine Index was probably an abbreviated listing that would reference the full agreement/assignments that are filed. The conveyances are filed, I believe, in the court house. This is pretty standard stuff, done everyday in the oil/gas patch.

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Permalink Reply by Les Bamburg on February 2, 2009 at 4:05

Mmmarkkk, wasn't it 20%. Sorry to be picky.

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Permalink Reply by Grillin' - MmmMmm on February 2, 2009 at 7:03

Yes, you're right. They (CHK) did the 25% deal with BP up in the Fayetteville.

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Permalink Reply by P.G. on January 31, 2009 at 8:52

Sounds like the only way to know would be to wait on some kind of activity. I wonder too if a land company was leasing for a drilling company, would the drilling company be named when the lease was recorded? Or would any future contact be with the land company?

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Permalink Reply by P.G. on January 31, 2009 at 14:46

So what name would the conveyances of leases be listed under at the court house, if there were any, the lessee's name?
There's no mention of any drilling company mentioned in my lease, just the land company's name. I'm curious if they still have it or flipped it.

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Permalink Reply by Two Dogs, Pirate on January 31, 2009 at 15:34

PG, the assignment would have gone out of whoever you leased to, say Honeycutt Hill into CHK. Then CHK into whoever.

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Permalink Reply by P.G. on January 31, 2009 at 17:38

So to do a search, I would look up the company's name I leased to find any conveyances of that company to see if my lease is mentioned, right?
I am assuming also that if who ever ended up with the lease, drilled a well, that company would be who I would be dealing with, right?

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Permalink Reply by KAYBABY on February 2, 2009 at 3:58

All you need to do next time, is to put a clause in your lease that you should be notified if the lease is assigned.

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Permalink Reply by P.G. on February 2, 2009 at 4:10

Next time?
Of course with the way they are "Not" drilling, I may just get that "Next Time" opportunity, huh?
This leasing business is like riding the roller coaster! Once you get on, you can't get off until the ride is over! You can bet if there is a next time, I'll be sure to fasten my safety belt!

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Permalink Reply by Les Bamburg on February 2, 2009 at 4:09

PG, good business practice suggests the original lessee or the new lessee should notifiy the lessor and provide a copy of the assignment. In reality they don't so if you become aware of a change then just contact the party(s) and request a copy of the assignment document.

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