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Wednesday, June 9, 2010

Property Owners: Know Your Rights!

Property Owners: Know Your Rights!
Attorney Steve Franckhauser was featured speaker at a seminar designed to help property owners who own oil and gas rights to be aware of their rights and their options when negotiating leases. He suggested that those searching for information about the lease process consult the Penn State website, www.naturalgas.psu.edu.


While the lease only specifies information about the tract of land, addendums are the critical aspect of the agreement, Franckhauser said. They cover details about payment, timber, restoration, water, wellheads and other matters.


Property owners should not take the process lightly or accept an offer at face value, not matter how reputable a company might be. “The lease allows the company to continue pumping oil or gas as long as the well is producing. That could be for a very, very long time,'' he noted. Franckhauser also covered rules of capture, which could leave an owner "out in the cold . . . You could have a 60-acre tract and everybody around you signs leases, but you don't. Who gets the gas under your property? They (the drilling company) do. There is no liability for drainage of oil or gas from under the property of another as long as there is no trespassing.” Some legal issues are subject to interpretation and rights owners are wise to engage legal counsel for negotiations with the energy company, Franckhauser advised. (Source: Uniontown Herald-Standard)

This article was featured in the Potter County Natural Gas Task Force Newsletter. You can find more information here.

4 comments :

Anonymous said...

I think its apparent that we don't have any rights when it comes to big oil and small land owners.their going to rape our land nomatter what!hope everyone likes bottled water.

Anonymous said...

Click on the link that Jim put here and then on June. Wow! This is flippin' BIG! Very informative. Like it or hate it, ya gotta admit that it is going to be BIG. This international giant companies do not invest in a "gamble." I am stunned.

Anonymous said...

Shell is investing here? Whew. There goes the neighborhood!

Anonymous said...

Not just Shell. Click on the icon that says "May" and you will see how our friends at Exxon Mobil are also moving in. The idea that the BPs, ExxonMobils and Royal Dutch Shells of the world give a hoot about the local area or the environment is tragically laughable.