Many oil and gas leases throughout Pennsylvania are on the verge of expiring due to the gas companies’ inability to “hold” the property under the lease terms. Gas companies holding expiring leases are often approaching landowners and seeking an “extension” of the expiring Oil and Gas Lease. These extensions typically range from six (6) months to two (2) years, but can be for much longer.
Landowners who receive offers to extend their existing Gas Lease should contact…
ContinueAdded by Douglas A. Clark, Esq. on October 31, 2012 at 2:00am — 2 Comments
A landowner leasing multiple parcels to an Oil and Gas Company should generally seek to lease the multiple parcels on separate Oil and Gas Leases. When multiple parcels are listed on the same Oil and Gas Lease the Gas Company can typically “hold” all of the parcels under lease by merely meeting the minimum Lease requirement(s) to “extend” the gas lease on any one of the individually identified Leased parcels.
Oil and Gas Leases typically “describe” the “Leasehold”,…
Added by Douglas A. Clark, Esq. on October 17, 2012 at 3:30am — No Comments
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