Bought a cabin in Tioga and the OGM's were transferred to me at the sale. I did get a confirmation letter from the gas company with them updating their records of ownership and they sent a letter of intent to renew the lease. I am just hoping they renew the lease at the amount the last 5 year lease was or more. I was told I should hear something by June/July, but haven't heard anything. Anybody else experiencing this or did you renew your lease lately?
I'm kind of a neighbor, over in Liberty township. I had a 5 year lease they renewed which is the norm. They will pay you what is in the lease for the renewal. My lease is up in a little less than a year but have still not been put in a unit or drilled or any of that. If they renew, all they have to do is send you a check for the amount stated in the contract. If not, you will be free to enter a contract with someone else.Check the date on your contract or you can go to the courthouse for that info. I have two suggestions....Call the people that have been recommended in this post (people on here usually help each other) ...and look up info on pipeline ROW (right-of-way) as that is also a possibility for any landowner. Hope this helps and good luck, Theresa
Not looking to promising. My lease is 9 months over renewal, and they want to pay almost nothing to renew. We are not allowing a pipeline to pass through or have access to the land until a proper contract is agreed to. Getting tired of the games, thinking of having them surrender the expired lease. - M
Any info on wells that have been spudded with the potential to go active? My unit is held by Shell, Sevem 474 off Round Top Rd in Charleston Township just southeast of Wellsboro. Lease is due to expire within the next 6 months.
Is this the same Kevin near Plummers farm............?
There seams to be more interest in the Middlebury area, but so far fairly low numbers and royalties with deductions. Most people I talk to are holding for better. Does anyone know of any recent no deductions leases?
Gary, I am told that a "No Deductions" lease from Shell is an absolute deal breaker. However, they are flexible on the $/acre, royalty percentage, and the term of the lease. The Pugh clause they use is also negotiable.
Would love to hear if anyone else is being told otherwise.
Call the company who holds your lease.
"I am just hoping they renew the lease at the amount the last 5 year lease was or more."
Michael, Don't accept a check for lease renewal if it isn't the amount stated in the lease for the 2nd Term. That's one item in the lease that companies can't ignore and force you to remain in the lease, unless you make the mistake of cashing a smaller payment.
What happens if you have a VERY user friendly lease in it's second term set to expire in 3 yrss
Do you think Shell would do admenment for 3rd term of five yrs with original terms......?
I've never heard of a company amending a lease extension term beyond the 3-5 year extension. If you get the the expiration of the current lease I would try to start and end my negotiations by saying give me the lease I previously had. If it is within the area of the currently offered numbers they would save a lot of time for themselves and you by drawing it up the same. Things have changed over the past 8 years. Gas prices are relatively low still but in a good portion of Tioga the Utica is proving to be a second and even more lucrative gas play. Still the cost to drill it is more than double the cost to drill the Marcellus, which doesn't help anyone really.
Thanks for your input