How many readers are familiar with this House Bill. Google it. Read for understanding. Whether you are a royalty owner or a wannabe, fairness in royalty payments is an expectation that's totally just. There's more to leasing than that upfront payment!
For clarification, HB 1684 pertained to the PA house, not to OH or to WV, and certainly not to NY. It died because some WPA landowners had issues with it.
There certainly should be more to leasing than our bonus payments. That's the theory, anyway. That theory does not, however, trump this:
"A bird in the hand is worth two in the bush."
You need either a remarkably well drawn lease, or a massive bonus payment, or to be dealing with a really honest gas company, else you could end up with very little save for being a victim of theft. Such is the state of Marcellus and Utica leasing in 2015. It's not a pretty picture.
Thanks for pointing out my oversight ... not providing the state! Landowner groups that follow Penn State's info from its MCOR quickly get a good grasp of what leasing is all about. Many meetings and discussions re:what's important to the group and individuals ( $$, %, surface protections, etc.) need to be established before a lease is considered. Then use a real O&G lawyer, just not a "johnnie-come-lately" to the scene, before it's finalized.
Rights holders would like to believe they hold the trump card but I don't believe that card exists for any party. Companies must deal w/ever-changing regulations, local/country-wide/global politics, updating the technology they use to maximize production, and waiting on the infrastructure needed to match the output. This isn't a boo-hoo for them. Simply a "2 sides to every story" approach.
HB1684 HAS to be acted on this year so no corners are cut that are detrimental to landowners. In a few weeks NARO's State Convention will be held in State College, and that will definitely be a topic of conversation. PIOGA will be represented but not formally speaking because both sides DO NEED to understand what the other seeks and eventually come to an agreement. Otherwise that O&G will stay put which serves no one well.
You know there are no massive bonus payments out there now. That ship sailed away in 2008. Both have sides learned a lot since then!
Incidentally I'll be @ the Convention ... YOU?