Is a 10 year lease too long?

We live in Jefferson county PA.

Eight years ago was the first time anyone was interesterd in the gas under our land. We entered into a 5 year lease for the shellow gas. There was no talk about Marcellus Shale Gas at that time. In the 5 years that passed only 2 wells were drilled close to my land they did not pan out as planed. So all drilling stoped. After that lease expirded we was asked by a different drilling Co. to lease our land again. We opted to only lease it for 3 years. Again no wells were drilled on our land or on adjoning land.

We now have been asked to lease our land for the next 10 years with a one time lump sum payment, but this time they want the rights for oil, gas and coal bed methane by any means.

 

My question is;

Is 10 years to long for a lease? 

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Permalink Reply by Keith E on October 15, 2010 at 10:33pm
Hi Mike,

I appreciate your info on this site. Question for you on seismic activity. I was told by someone who used to be in the industry that once the testing starts, expect some drilling within the next couple of yrs. Is this accurate? It seems alot of money is being spent for drilling not to occur in the very near future. Are you familiar with Sandy Creek Forest in Clearfield County?

Keith
Permalink Reply by Jeffrey L kerr on October 18, 2010 at 12:51pm
any one ever herd of a co. called back door drilling co. if so please leave your comment. they made us a offer. want to make sure its a good co. to work with
Permalink Reply by Jeffrey L kerr on October 18, 2010 at 1:13pm
any one herd of back woods drilling co. please leave your comments
Permalink Reply by Brian on October 18, 2010 at 3:20pm
UMM...yeah, I'll say so! lol
Permalink Reply by Jeffrey L kerr on October 18, 2010 at 11:43pm
yea after i typed it i thought i was wrong on the name lol but any way any comments on back woods drilling co.

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