Penn State Ag Sciences Newsline -- September 16, 2008
Start with the right lawyer when negotiating a natural gas lease (:48)
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Suggested Intro:
AS PENNSYLVANIA'S NATURAL-GAS RUSH CONTINUES, MANY LANDOWNERS ARE FACED WITH UNEXPECTED DECISIONS. AN ECONOMIC DEVELOPMENT SPECIALIST IN PENN STATE'S COLLEGE OF AGRICULTURAL SCIENCES HAS TIPS ON WHAT TO DO WHEN THE LEASING AGENT KNOCKS AT YOUR DOOR. MORE FROM GARY ABDULLAH:
Story:
(:14) AS MORE COMPANIES RUSH TO TAP THE MARCELLUS SHALE GAS DEPOSITS, THEY'RE GOING DOOR-TO-DOOR IN AREAS OF PENNSYLVANIA, LOOKING TO BUY DRILLING RIGHTS. PENN STATE EXTENSION EDUCATOR RON TAVERNO SAYS NEIGHBORS SHOULD BAND TOGETHER AND HIRE A LAWYER TO NEGOTIATE THE BEST GROUP DEAL:
Taverno Actuality:
(:20) "TO HIRE AN ATTORNEY MAY COST YOU 25 HUNDRED DOLLARS, SO, ONE PERSON HIRING AN ATTORNEY CAN BE QUITE EXPENSIVE. BUT AS A GROUP YOU CAN POOL YOUR RESOURCES AND GET THE SAME TECHNICAL ADVICE FOR PENNIES ON THE DOLLAR. THE LEASE MIGHT HAVE THE STANDARD 20 CLAUSES, BUT HE'LL KNOW WHAT CLAUSES ARE IMPORTANT FOR YOUR GENERAL LOCATION, AND HOW TO PROTECT YOURSELF THROUGH THE WHOLE LENGTH OF THE LEASE."(:14) TAVERNO SAYS YOU CAN GET HELP FINDING A LAWYER IN YOUR AREA ONLINE AT PENN STATE EXTENSION'S GAS AND OIL LEASING WEB SITE AT NATURAL GAS DOT EXTENSION DOT P-S-U DOT E-D-U. I'M GARY ABDULLAH.
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