Belmont county S/G lease renewal

Our lease was originally with Rice in 2012 They sold to Gulfport a couple of years ago. Gulfport has exercised their option to renew the original 5 year lease. Best Case

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Permalink Reply by Barry D on September 2, 2017 at 12:49am

Brianh

The "best case" is that Gulfport renewed for a reason; such as the company plans to include your property in a drilling unit.

Permalink Reply by Scott72 on October 23, 2017 at 12:27am

My Mom received a letter from Rice Energy stating their intention to extend the primary term of her 2013 lease in Belmont county.

Permalink Reply by Belmont Terrier on October 23, 2017 at 2:06am

Scott72,

I believe the Rice Energy "Renewal" letters are just a formality as required by the original lease.  We also received a letter, but I believe Rice is simply keeping the option to renew open with no guarantee that they will actually exercise their rights. 

What is your payment due date to actually extend the lease for another term?  I know some S/G leases have slightly different dates and I haven't heard of any member actually receiving a Rice payment yet.   

Permalink Reply by Brianh on October 23, 2017 at 2:10am
Our lease was dated 11/30 and Gulfport renewed with a check $$$
Permalink Reply by Scott72 on October 23, 2017 at 2:15am

1/21/13 was the origination date.

Permalink Reply by Belmont Terrier on October 23, 2017 at 2:21am

Thanks for the information, I hope that your mother receives a 2nd lease payment!

Permalink Reply by Scott72 on October 23, 2017 at 2:58am

The property is in northern Richland Township.  I'll post any updates that become available.

Permalink Reply by Scott72 on January 3, 2018 at 1:41am

Check came in the mail Yesterday.  Great start to 2018.

Permalink Reply by Belmont Terrier on January 3, 2018 at 3:16am

Scott72,

Congratulations on the good fortune!

My family also received a lease extension payment from Rice Energy right before the holiday. It was nice to have the S/G lease still active and not have to negotiate a new O/G lease.    

Permalink Reply by Ben Jamison on January 3, 2018 at 4:18am

Who is S/G?

Permalink Reply by Belmont Terrier on January 3, 2018 at 5:43am

Ben,

I was referring to the Smith/Goshen township landowner group lease.

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