I wish you good luck Terry. It seems to me that REX has forgotten about Venango Township.
Oly & Trapper,
Being forgotten is better than being underpaid by around 100 to 90% of what your lease calls for.
You can collect a nice bonus when you Lease again. Remember "The Bonus is Everything, The Royalty is nothing".
Taken from a meeting where DPS Penn Reps told us incorrectly "The Bonus is Nothing, The Royalty is Everything". Nothing could be further from the truth.
Rex is not planning to drill much additional acreage over the next few years. Due to low gas prices they basically lose money on every mcf sold (but we will make it up in volume! as the joke used to go during the last internet bubble). You can check their public filings to get a feel for what areas they plan to develop.
I called REX and they notified me the lease for my property wont be renewed. Lawrence County RT108 and RT388
Feel free to call and ask them directly for your property.
Call 8/26/2016 lease will not be renewed