Leases Expiring in Sullivan Co. PA

Many leases are expiring in the area. I am signed with Chief. I have property in the Lincoln Falls area. Anyone out there getting contacted by Chief or others with offers for signing a new lease? If so, care to share what the going rate is for new leases? I am interested in talking to my neighbors about getting together as a group for negotiations.

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Permalink Reply by Doug shaler on July 13, 2015 at 10:44am

I was leased with chief also, they let my lease expire in January of this year, I was quite surprised but what do I know!  If you do get a group together, I'm interested.  I have 14 acres in fox township.

Permalink Reply by Michelle R on July 15, 2015 at 1:43am

Hi Doug. I live a few hours away from my property, so it will take me a little while to go speak with my neighbors, but when I do, I will get in touch with you. I have heard that many people have much better luck with group-negotiations. Thanks!

Mike MurphyPermalink Reply by Mike Murphy on July 15, 2015 at 4:01am
Permalink Reply by Michelle R on July 16, 2015 at 5:38am

Thanks so much, Mike!

Permalink Reply by John Yonkin on July 16, 2015 at 7:29am

Other than it might be FREE, why would you talk to these people?  Sullco/energy task force?   They will not provide you any advise on leasing and negotiations.  

Permalink Reply by Mike Herceg on July 16, 2015 at 6:43am

If you signed one of those lease you got paid good money for, They will let that expire and not renew. If they are still interested in a well near you, they will come back within couple years to re-negotiate at a lower rate, with slightly higher royalties and less up front bonus $. Make sure when they let that lease expire, you send a notorized letter to them requesting they file with courthouse and notify you with a "Surrender of Lease". So other companies will see your property is available to lease.

Permalink Reply by John Yonkin on July 16, 2015 at 7:32am

I understand that Chief has all the leases it wants to keep written at this time.  They are either in production, held by production, or have been extended.  

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