PokerStars Pot-Limit Omaha High, $0.50 BB (8 handed)

Button ($72.65)
SB ($49.05)
Hero ($50)
UTG ($72.05)
UTG+1 ($31.55)
MP1 ($30.45)
MP2 ($74)
CO ($30.90)

Preflop: Hero is BB with , , , .
UTG calls $0.50, UTG+1 raises to $1, MP1 calls $1, MP2 calls $1, CO calls $1, 2 folds, Hero calls $0.50, UTG calls $0.50.

Flop: ($6.25) , , (6 players)
Hero checks, UTG checks, UTG+1 bets $5.95, MP1 folds, MP2 folds, CO calls $5.95, Hero folds, UTG folds.

Turn: ($18.15) (2 players)
UTG+1 bets $17.3, CO calls $17.30.

River: ($52.75) (2 players)
UTG+1 checks, CO checks.

Final Pot: $52.75

Results in white below:
UTG+1 has Qc 8h 7d Kh (two pair, kings and queens).
CO has 8d Ah 5h 8c (two pair, jacks and eights).
Outcome: UTG+1 wins $52.75.

Do you normally chase? what kind of payoff do you have to get to make it worth it for you? Only in position?

This depends more on reads than anything.