A second wave of leasing activity is happening throughout Northeastern Pennsylvania. If you leased your property in 2008 for a five year primary term, the lease will expire unless the Lessee has commenced drilling operations, declared your acreage in a unit, or extended the lease by other provisions. If the current lease has an option to extend for an additional period of time, be certain that you are aware of the current expiration date and the terms required for the Lessee to exercise the extension option. At the expiration date, it is the landowner’s burden to request a Surrender of Lease document to record in the Recorder of Deeds Office. The Surrender document is important; it is notice that your property is not subject to an active lease, and is available for leasing.
Feel free to use the attached example as a request for your surrender. Send the Surrender Request via Certified Mail with return receipt requested and retain a copy of the letter, post office receipt and tracking number.
Should you need guidance or assistance with the surrender request or with seeking best offers, contact me at email@example.com
Gregory S. Gass
Certified Professional Landman
Fairchase Associates, LLC