Franklin Natural Resources Leases Land Holdings to Chesapeake Energy

Franklin Natural Resources and Franklin Northern Land Company, affiliates of Franklin Property Corporation, leased 400 acres of its northern Michigan land holdings in Emmet and Charlevoix Counties to Chesapeake Energy Company for oil and gas exploration. Chesapeake Energy, a public oil and gas exploration company based in Oklahoma, has substantially increased its land lease holdings in Northern Michigan in competition with other international energy companies vying for land in the market.