Why Are Gas Companies in Tioga County and across Pennsylvania Aggressively Requesting Oil and Gas Lease Extensions, Modification and Amendments for very Little Financial Compensation?

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Many leases in Pennsylvania are set to expire in 2016 or shortly thereafter and Southwestern Energy and other gas companies across Pennsylvania are aggressively seeking to extend existing gas leases for little to no compensation. Given today’s low natural gas prices, Southwestern Energy and many gas companies across Pennsylvania are seeking to extend existing Oil and Gas Leases to avoid drilling expensive horizontal wells into the deeper Marcellus and Utica Shale formations. Property and gas rights owners must be very cautious when considering any extension, modification or amendment of their existing gas lease as these extensions or other changes generally benefit the gas company and not the landowner.