I’ve been covering the Marcellus Shale issue for over a year now. Although it is still just a year old in Ohio, it’s been an issue in western Pennsylvania and northern West Virginia for longer than that. And guess what? It is not going anywhere anytime soon.
Although I have written and the Farm and Dairy has published a number of articles about the Marcellus Shale, I still get questioned when I’m out and about.
So to answer those questions, I’ve composed a list of five tips to remember when it comes to signing a gas lease.
1. Take your time and Consult an Attorney!
2. Remember everything in the lease is negotiable and the lease presented is just a starting point; again, contact an attorney!
3. Consider the fact that if the gas company begins drilling operations on the leased premises during the primary term of the lease, the lease will be extended as long as gas is produced in paying quantities. It may mean landowners will only get one turn at creating lease, so it is important to get it right!
4. The size of your tract does matter and remember it could be more valuable if it’s in proximity to pipelines or main roads. Both factors could command a higher price.
5. Again, before signing any agreement with any gas leasing company, Consult an Attorney!