My 5 year lease in the Paw Paw district held by XTO has now expired without them extending for the agreed upon 3 yrs. Seems a bit odd to me that they wouldn’t hold onto it for the additional 3 yrs. This is a non-producing site, in which I own both mineral and surface rights on 41.815 acres.
I was a bit disappointed at first, but now I’m looking at the positive sides. This experience has only made me wiser to the process and industry. But, I have so much to learn going forward. I have the power of time on my hands, as I first leased at age 26, I’m 31 now. I also have 2 beautiful little girls who can pick up where I leave off.
My initial thoughts were to start calling other active companies in my area, but at 2nd thought I think it could benefit me more to just forget about it for awhile and be free again. I definitely need to further educate myself on my area and get in touch with nearby mineral owners whom were included in my block.
Would you recommend taking a step back, or driving forward to stay leased?
I’ve heard WV has a serious lack of pipeline problem, which is soon to be addressed. This should in turn spark interst again on my tract.
Thanks for all your expertise and help on the subject.