Replies to This Discussion

Permalink Reply by 0ym9x5ag7ury2 on October 5, 2016 at 2:07pm

Call the company who holds your lease.

"I am just hoping they renew the lease at the amount the last 5 year lease was or more."

Michael, Don't accept a check for lease renewal if it isn't the amount stated in the lease for the 2nd Term. That's one item in the lease that companies can't ignore and force you to remain in the lease, unless you make the mistake of cashing a smaller payment.

Permalink Reply by Darrell Weaver on October 5, 2016 at 11:58pm

Question

What happens if you have a VERY user friendly lease in it's second term set to expire in 3 yrss

Do you think Shell would do admenment for 3rd term of five yrs with original terms......?

Permalink Reply by Jesse V. on October 6, 2016 at 1:54am

I've never heard of a company amending a lease extension term beyond the 3-5 year extension. If you get the the expiration of the current lease I would try to start and end my negotiations by saying give me the lease I previously had. If it is within the area of the currently offered numbers they would save a lot of time for themselves and you by drawing it up the same. Things have changed over the past 8 years. Gas prices are relatively low still but in a good portion of Tioga the Utica is proving to be a second and even more lucrative gas play. Still the cost to drill it is more than double the cost to drill the Marcellus, which doesn't help anyone really. 

Permalink Reply by Darrell Weaver on October 6, 2016 at 1:41pm

Thanks for your input

Permalink Reply by Darrell Weaver on July 20, 2022 at 3:38am

Given the current conditions has ANYBODY seen a new SENECA lease in Tioga County.

I know that there is some leasing activity happening and was wondering what type of terms are being offered. I know I could go to landex and download some current executed leases, but I was hoping someone here might have some firsthand knowledge......

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