beazer,I am afraid you have your facts and dates wrong on this one! I signed my lease 10/08 and so did most of the other landowners. The two larger parcels were signed prior to 2008! I got a five year lease and was paid in full. 2500/15/5 and that is what the others got. Why would we have signed leases for these small parcels with Fortuna on 10/2009 when the rest of our leases had been assigned to Chesapeake? Chesapeake was already here on 10/09 drilling the wells? Three of us that signed those leases for the smaller parcels with Fortuna had around 1000 acres between us signed with Dominion in 2008. Fortuna and Chief were here drilling within a few miles of us. I had called Dominion several times and ask them what their plans for us were. They told me they didn't have any plans and if they did I would be the first to know. Chesapeake came along 11/2008 and wanted a pipeline ROW to cross the three of our properties and told us they had plans to drill several wells in this area. We ask them if they could buy out our leases as well as the rest of the landowners leases in our group. Chesapeake said they would try and they did get all of our leases assigned to them except for the Fortuna leases in April of 2009.To the three of us the small Fortuna parcels that we hold are not much of a loss. To the rest of the smaller landowners that don't have any other land, it is a very big deal! They have all been calling Fortuna and they have been getting the same answers that I got! If you are still a non believer stop by and I will show you the date on the Fortuna lease! Hey JEB,We must be talking about two different leases.
Beazer,I'm in the same boat, with the same questions/concerns. We have less than 20 acres, and signed as an add on with the Fortuna FG at the end of last year. We are not surrounded by CHK, but they have the majority of the nearby leases. We'll just see what the future holds. In my gut I still think that Fortuna and CHK are going to have to start horsetrading in order to put their respective units together. And the protections offered in the FG lease were so much better than the boilerplate that CHK was offering.I spent a little time reviewing the recent Otten unit declaration. After doing so I got a lot more comfortable that rolling the dice with Fortuna was a sound strategy.FWIW a friend is a landman in a different part of the country. He tells me that that swaps and flips are worked out at headquarters, and that landmen are very rarely kept in the loop.We shall see.
But are those parcels leased to anyone?
That is why new legislation needs to happen to protect our property. They can drill right up against your property, frac and there is NOTHING to prevent them from taking your gas as far as it is recoverable. They don't care about you, the gas owner at all, there is no respect for your property. WAKE UP!!!