WHAT ABOUT AUTOMATIC LEASE RENEWALS?
I remember reading somewhere on this site that some leases are automatically renewed without the land owner being notified until the day of expiration. In Belmont County, Gulfport renewed a lease that was paid 500.00 more per acre than the original signing bonus was for. The landowner wasn't notified until the check was cut. That goes against almost everything I've heard about the way these companies are handling these leases with many of them being let go. But so far I have not heard of anyone being given a 'release' from the agreements.... Anyone with info regarding this?
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Permalink Reply by Elsie Fox on
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I received an order about a month ago that 8.5 of my 12 acres are in a well unit. I guess I can assume that these acres are Held By Production and the lease won't be renewed on them. (Bummer, I'd rather have the lease money....) But if the other 3+ acres aren't unitized by the end of my current lease (September), can I still hope for a lease renewal on them?
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Permalink Reply by lance on
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Probably not. But you can ask for a release of those acres filed in the courthouse just in case another driller might want them.
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Permalink Reply by Michael on
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Any one know of another Company who may want to offer money for a lease in the Hanover Township, Beaver County area.?
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Permalink Reply by Nancy LeNau on
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Michael, Contact Todd, he might know.
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