Aubrey McClendon, CEO of Chesapeake Energy Corp.
Saturday is party day in Wysox, PA. Letters have gone out from Chesapeake Energy to landowners from Towanda, North Towanda, Wysox, Standing Stone, Monroeton, Asylum, Wyalusing, and Herrick, requesting their presence at the lease signing event at the Wysox Fire Hall. Chesapeake is offering 10-year oil and gas leases that would pay $5,000 per acre with a 20% royalty on gas that is extracted. What a great marketing device! Have a party, get everyone together, serve refreshments, and try to make people feel like they'd be foolish not to sign a gas lease. Brian Grove, Chesapeake spokesman, said the response has been good to the letters.
We are glad that so many in Bradford County are ready to partner with us to develop their gas rights.Signing bonuses were higher last year, ranging from $5750-$6500. Why has the offer gone down?
This blogger would not use the word "partner" in describing the relationship between a landowner and a gas driller. In her experience, it is more like "We've got you now, sucker. Deal with it." A partnership connotes a good relationship based on mutual respect and benefits.
Here is the article from the Daily Review (3/17/2010).