My family owns 50 acres of land in Southwestern PA, and was contacted by a gas company who recently finished two drilling rigs within a mile of our property. Our previous lease is about to expire and was very low, but they are now offering around $1800 per acre. They have all other surrounding neighbors already signed on. How much we should be asking per acre for the lease? How do we know if they intend to drill or not? Also, can anyone refer me to an O&G lawyers in PA? I am personally new to this and I appreciate any feedback or insight any of you may have. If you need any more information on the situation, please let me know. Thanks
contact Morascyzk and Polochak http://www.washingtonpalawyer.com/ . They are currently working with several groups and are doing a fine job. $1800 is low $2500 and 17% would be a realistic starting point, if this is Chesapeake, they are low balling you.