I received an offer to lease 100 acres in Elk County PA for $100/acre delay rental per year for 10 years and 15% royalty, no post production costs. No bonus offered. The tract is directly adjacent to a unit that has produced 7 MMCF since 2012. The lessee wants no depth restriction, so they would have access to both the Utica and Marcellus layers. I do not know the fair value of the tract, but do know that this offer is not acceptable. Any input would be appreciated.