Mary Jolliffe
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What is your role?
Which state(s) are you following?
West Virginia
What shale plays do you follow?

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At 7:28pm on December 2, 2011, Mary Ann said…

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.


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