Many Oil and Gas Leases throughout the Marcellus and Utica Shale regions of Pennsylvania are on the verge of expiring due to the Lessee’s (gas company) inability to “hold” the property under the terms of the existing gas lease. In other words, if the gas company does not conduct drilling operations by the end of the term of the existing Oil and Gas Lease, the lease will terminate for lack of activity. Natural gas companies that own expiring leases often approach Landowners requesting that the Landowner sign an “Oil and Gas Lease Extension” in order to extend the end date of the existing lease and provide the gas company additional time to conduct drilling operations. Gas Lease extensions typically range from six (6) months to two (2) years, but the extension time-frames can vary.