Question I was approached a while back by a landman working for a property company. He said that they were leasing in my area (Fort Worth) and asked if I would sign a lease agreement with Chesapeake Exploration LLC. I reviewed the lease, replied back with some questions and received answers to my questions. I have not replied or signed yet and now I have received a message from him saying that Chesapeake will be taking over the unit for the property and if I want to execute the lease with him to let him know by today. I guess I am confused as to what the role of the property company is in regards to the leasing? Either way the agreement is with Chesapeake. If I don't sign with the property company will I be approached directly by Chesapeake? Are there any advantages to bypassing the property company and dealing directly with Chesapeake?
Answer It does seem a little fuzzy but generally the answer is no. The majors hire a land company to conduct their title and leasing review and get as many signed up as possible. As things in the corporate Chesapeake office change they move and remove brokers.
If Chesapeake has an interest in your property/minerals they will continue to send brokers or landmen out to visit with you to get you leased. The offers are generally similar whether it is a brokerage company or Chesapeake leasing you.
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Was very helpful and quick in his response. Thanks for picking up the question out of the question pool. It is greatly appreciated.
I will try to answer any question you have. Even if I reject a question, I still will give a shot at what I would do in your position. The only questions I will not take a shot at would be a highly technical engineering or geological question. I am beginning to see quite a few questions from land men and other oil companies and that doesn't matter to me either. I will attempt to help.
I am an oil and gas attorney that has been in the business for more than 20 years. I have held a series 22 and 63 securities license, been in oil and gas operations, land man, division order analyst all prior to obtaining my law degree. Today, I typically write title opinions verifying ownership of oil and gas minerals, assist landowners in negotiations on oil, gas and mineral leases, easements and conveyances. I also assist oil and gas companies with the sale of working interest ownership as well as common business law issues.
Organizations State Bar of Texas, Member of the Tarrant County Bar and the Dallas County Bar Associations.
Publications Multiple oil and gas topical columns on ezine.com.
Education/Credentials I have a B.S. degree which I rely upon more than my Business Mgmt degree or Law degree...