At Chesapeake, we are committed to safely and responsibly producing oil and natural gas. That means employing financial discipline and achieving profitable and efficient growth from captured resources to drill wells for long-term production. It also means providing our owners with a full understanding of what it means to lease with Chesapeake.
A mineral lease is a legally binding contract that gives Chesapeake the right to extract and produce a mineral owner’s oil or natural gas. It’s important to note that property or land ownership does not always reflect mineral ownership. In many cases, the original owner may have sold the surface rights but retained the mineral rights. Title and deed searches can usually determine a property’s mineral owner. Chesapeake will conduct a title search to confirm mineral ownership.
Owners typically receive an initial bonus payment. In some cases owners will also receive recurring royalty payments based on the percentage of a well’s production and a time frame within which Chesapeake will begin operations. Once a well begins producing, the lease is generally in effect for the life of the well.
If you have questions about leasing, please contact Land Leasing, call Owner Relations at 877-245-1427 or send an email to Owner Relations.