Mary, Chesapeake is making the $1000 offer to several residences on Hornbeck and the 4-H camp road right now. Their standard lease is very much written in Gas & Oil company favor, so you definately want to get a good attorney to review before signing anything. For instance, if you decide to sign, it's in your best interest to get as short a lease (2-3 years if you can, definately not auto-renew after 5 years) as the prices and terms will change over time. You definately do NOT want to sign a 5-year automatic renewal--that will get you in trouble down the line. I know there are people in your neighborhood currently negotiating more than $1000, and I also recently heard of someone in Mon County who got a $4000/acre lease. I have talked to several neighbors in your area and can fill you in on who is signing and who isn't if you're interested--I left you a voice mail to call me if you want more info.
Landowner
Mary Ann
Mary, Chesapeake is making the $1000 offer to several residences on Hornbeck and the 4-H camp road right now. Their standard lease is very much written in Gas & Oil company favor, so you definately want to get a good attorney to review before signing anything. For instance, if you decide to sign, it's in your best interest to get as short a lease (2-3 years if you can, definately not auto-renew after 5 years) as the prices and terms will change over time. You definately do NOT want to sign a 5-year automatic renewal--that will get you in trouble down the line. I know there are people in your neighborhood currently negotiating more than $1000, and I also recently heard of someone in Mon County who got a $4000/acre lease. I have talked to several neighbors in your area and can fill you in on who is signing and who isn't if you're interested--I left you a voice mail to call me if you want more info.
Dec 2, 2011