Landowners need to understand everything before signing natural gas lease
Posted: May 19, 2008
Suggested Intro:
IF YOU'RE THINKING ABOUT LEASING YOUR LAND FOR NATURAL GAS EXPLORATION, A PENN STATE EXTENSION EXPERT SAYS YOU SHOULD UNDERSTAND EVERYTHING BEFORE SIGNING ANYTHING. CHUCK GILL REPORTS:
Story:
(:14) ABOUT TWO-THIRDS OF PENNSYLVANIA RESTS ABOVE THE MARCELLUS SHALE, WHICH COULD HOLD UP TO A TRILLION-DOLLARS-WORTH OF RECOVERABLE NATURAL GAS. AND THAT HAS CAUSED A GAS RUSH OF SORTS AS ENERGY COMPANIES APPROACH LANDOWNERS ABOUT LEASING THEIR LAND FOR GAS EXPLORATION.
(:13) PENN STATE EXTENSION OFFERS WORKSHOPS TO HELP LANDOWNERS UNDERSTAND THE GAS LEASING PROCESS. EXTENSION EDUCATOR TOM MURPHY SAYS IF YOU'RE CONSIDERING A GAS LEASE, IT'S IMPORTANT TO GET LEGAL ADVICE ON POSSIBLE ADDENDUMS TO PROTECT YOUR PROPERTY RIGHTS :
Murphy Actuality:
(:15) "THIS IS A VERY DIFFERENT SITUATION THAN WHAT HAS BEEN THERE IN THE PAST, SO IT'S IMPORTANT THAT PEOPLE GET UP TO SPEED AND GET EDUCATED BEFORE THEY SIGN A LEASE. ONCE A LEASE IS SIGNED, IT'S A DONE DEAL, IT'S A LEGAL CONTRACT, AND THERE'S REALLY NOT A LOT OF WAYS TO MAKE CHANGES TO THAT AFTER THE SIGNATURE IS APPLIED TO THE PAGE ."
(:12) WPSU-TV AND PCN WILL AIR A LIVE CALL-IN SHOW ON GAS LEASING AT 7 P.M. ON MAY 22. FOR INFORMATION LOG ON TO W-P-S-U DOT ORG. FROM PENN STATE, I'M CHUCK GILL.
ALTERNATIVE ENDING, IF AIRING AFTER MAY 22:
(:08) TO LEARN MORE, VISIT THE WEB AT C-A-S DOT P-S-U DOT E-D-U AND CLICK ON NATURAL GAS LEASING. FROM PENN STATE, I'M CHUCK GILL.
