Oklahoma Oil and Gas Mineral Owners,

Mr. McClendon passed today. He pioneered the modern land grab and the lease play. One didn't have to deal with the dinosaurs or the remains of the Seven Sisters if he owned it all. No farmouts or drill-to-earns needed. McClendon re-invented the landman profession and made a company's land strategy pivotal to their success.

It's fair to say he was responsible for enriching more Oklahoma mineral owners in the last decade than anyone. Oil and gas lease bonuses skyrocketed when Chesapeake came to town. Mr. McClendon directed the acquisition of millions of acres and the spending of billions of dollars. There will not be another like him for some time. Fair winds and following seas.

More to follow,

Berlin