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How long is a typical lease?
It is usually five years. Only in rare situations will the lease automatically renew for another five year, but that is subject to negotiation. A lawyer can advise about the right of first refusal in the lease – that is to say, there may be a clause that allows the land owner to shop for a better rate toward the end of the lease period. The clause allows the gas company to match any offer received, which is often in the gas company’s best interest after making the initial investment to make the property operational.
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