Anyone here signed a gas/oil lease with Range Resources?

[willow_girl]

Would love to hear about your experiences, good or bad, and any advice you might have for me.

[fordy]

Originally Posted by willow_girl

Would love to hear about your experiences, good or bad, and any advice you might have for me.

..............You can put a clause in your lease that says they have to drill a well within say 3 years OR the lease is expired . Limit term to 3 years if possible . You can also stipulate the maximum vertical depth to which they can drill . Let's say the geology around your area has 5 specific pay zones , the deepest zone at 12,000 feet , so they drill down to say 12,800 ! The most prolific zone is at 8,000 feet..............you can stipulate that should they desire to perforate the two lower zones they must pay you $xxxx for that privilege . There are all kinds of negotiatble items that you can 'Ask' to be put in your lease.........doesn't mean they will be !
...............Some oil companies have been putting the screws to their royalty holders.......Chesapeake being one of the main ones ! They have been screwing their royalty hlders by charging them for 'Compression' for natural gas . Royalty owners are not supposed to pay these kinds of items..........this is a producer expense . Just be aware of the business practices of the company with whom you sign a lease with . There is all kinds of info on the internet about the companies who have been screwing their royalty owners . , fordy

[fordy]

Addendum:...........Pro Publica has published an indepth article on the issue I referenced . It explains the situation in great detail and is available on the net . , fordy

[idigbeets]

I used to map the shale deposits for Range.... good company. However talk to a lawyer or Penn State University has a whole dept to help landowners navigate leases etc.