Replies to This Discussion

Permalink Reply by martin on May 29, 2018 at 1:10am

We are leased with Gulfport and I was told by a land man nothing is planned for our property in 2018. Hoping 2019 is the year.

• ▶ Reply

Permalink Reply by Terry giuliani on May 29, 2018 at 1:52am

I'm leased with Gulfport. I figure they will just let lease expire.

• ▶ Reply

Permalink Reply by Lois Gerdes on May 30, 2018 at 8:49am

Bummer, I was hoping soon.

• ▶ Reply

Permalink Reply by jett on May 31, 2018 at 7:34am

These companies do so much maneuvering around to arrange their specific areas. I guess everyone can't be drilled all at once ;)

Just good to know we're in a hot spot :)

• ▶ Reply

Permalink Reply by jett on June 1, 2018 at 10:36am

You may already know this but if an oil/gas co doesn't renew the lease, it has to be officially released at the courthouse. My friends did not realize this. Once they were officially free of their old lease they got leased again by another company.

• ▶ Reply

Permalink Reply by jason irvine on June 2, 2018 at 6:10pm

Is there a certain state that requires you to file for a release once the lease expires? Our lease expired this past January. It was for a total of 8 years. 5 was primary and the renewed it for 3 per the lease. We leased it out again quickly. There was no filing at the courthouse. A lease is nothing more then a contract. When either expire that's it. Is it for sure that a released must be filed.

• ▶ Reply

Permalink Reply by LandmanDad on June 8, 2018 at 3:09am

I think there may be an OH law stating an expired lease should be released of record, however, it is only a formality and once the primary term expires and there is no event to perpetuate it the secondary term then it's toast. The release being filed is mainly just a benefit to the landowner to prove that a previous lease in the chain of title is no longer valid. Any company wanting to develop will take a new lease any day of the week if they believe the previous lease expired regardless of if a release was filed.

• ▶ Reply

Permalink Reply by jett on June 11, 2018 at 5:50am

That was not my 2 friends' experience. The other company in their area did not approach either of them until they were on record as being released from their expired leases.

• ▶ Reply

Permalink Reply by jason irvine on June 12, 2018 at 8:22am

Jett...that doesn't even seem right. When the contract expires that is it. Even a 2nd term lease has contractual stipulations. Once the time expires the contract becomes void. I'm in wv so that may be different the pa and oh.

• ▶ Reply

Permalink Reply by jett on June 14, 2018 at 9:54am

They went to the courthouse and filed. They both said it was easy. They received no offers til after they had filed.

There have already been many of discussions on this subject over the years on this site.

• ▶ Reply