What can you tell me about gas leases?

Answer by  patti (29325)

Engage the services of an attorney who specializes in gas/oil lease law. You can set up a gas lease to maintain rights to the surface property and mineral rights.

Answer by  tamarawilhite (17883)

In a gas lease, the company pays you for the right to drill for gas under your property. Leases are typically signed for five year terms. If you refuse to sign a gas lease and the majority of surrounding property owners do sign gas leases, the gas company can drill regardless of whether you consent.

Answer by  Platypus (180)

A gas lease is a non-possesory interest in land that may or may not be alienable, descendable or deviseable depending upon the language of the contract. It gives the leasee the right to extract certain gases, defined in the lease agreement, from the land as well as the right to enter, explore, and build pipelines on the land.