Lease extention in your lease states the amount Paid for extention

Have seen where some people have been offered money to extend their leases. The amounts have varied. I thought your lease specified the amount. If the oil company needed an extention they would have to pay whatever your lease said for an extention. In my case it would be the same per acre as the original lease. AM I confused???

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Permalink Reply by RJ on July 9, 2009 at 14:07
Lease says they will have to pay original price again.Which would be great for me if they do.But I doubt they will let it go that long.I dont expect then to go for an extention.I think they will drill before it expires.THey have 2 more years.Thanks for your reply.

Oil & Gas ProPermalink Reply by The_Baron on July 9, 2009 at 6:46
It all depends on the wording of your lease.

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