after 5 years can you get a new signing bonus?
After 5 years and they didn't start any roads or drilling a agent came and ask me to resign at 15%. Can you get a new signing bonus? i ONLY GOT $400 an acre, I know you can re negocite the percentage of royities which I getting 15% and they want to give me 17%
Washington County Pennsylvania
The answer would depend on what is in your lease. If there is no renewal clause with provisions for the gas company to renew under certain terms, you are in a whole new negotiation and certainly could look at the signing bonus, royalties, etc. We strongly recommend that you consult an attorney to work with the negotiation to make sure you have all your rights protected and that the language in the lease provide you what you are asking for. If you need an attorney, a listing of attorneys who have identified themselves as working in gas leasing can be found at this Penn State Extension website. https://extension.psu.edu/natural-resources/natural-gas/service-directory There is no endorsement or vetting of this list by Penn State.
Does this mean I can re negocite the percentage of royities and get a new signing bonus or not? This is all I could find in the contract That pertaned to no well after 5 years. It reads as follow Upon the expiration of this lease(5years) with in (60) days there after, the lesser grants to lessee an option to extend or renew under similar terms a like lease. Thanks so much for your help !!!!!!
Does this mean I can re negocite the percentage of royities and get a new signing bonus or not? This is all I could find in the contract That pertaned to no well after 5 years. It reads as follows:...... Upon the expiration of this lease(5years) with in (60) days there after, the lesser grants to lessee an option to extend or renew under similar terms a like lease. Thanks so much for your help !!!!!!
It looks like the lessee has the right to extend the same lease if they act within 60 days without renegotiating the existing terms. Again, a lawyer should review your lease in its enitirety.
Thanks for all your help but I have one more question,:.....they want to run a temporary water line along my driveway along the property line, would it be something they would pay me for? Would it normally be something they would compensate the land owner? Thanks for all your help!!!
Assuming there is no provision for pipelines in your current lease, yes, you should negotiate a separate agreement for the water line. In addition to compensation you should also consider a variety of other items. Some examples include how long will the water line be on the property, assurance that it will be removed from the property at the end of the period, what will the water line carry (only fresh water ?), provisions for any damage to your property, protection to you for any liability if the line broke, etc.. Of course making sure all these provisions are taken care of means you are back to working with an attorney.