GasBuddy Blog

GasBuddy News Article

votes

Fracking: Landowners profit from oil and gas boom

WKYC.com -- The garden on Richard Faber's farm produces all sorts of fruits and vegetables, from tomatoes to watermelons.

Turns out Faber's land is rich in natural gas and oil, at least that was the bet investors were willing to take when they approached him about leasing his mineral rights to them.

Faber ended up leasing land to Shale Investments for a price: $701,580. But, he says, he did extensive research search before signing a lease and attended several meetings held by companies who were interested in his land.

Read the Full Article

Submitted Oct 31, 2012 By: drpepperTX

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Fracking: Landowners profit from oil and gas boom	Post a Reply Back to Topics

REPLIES (newest first)Ignore Short Messages

First

Next Last

kyjlh Champion Author Kentucky Posts:1,628 Points:654,455 Joined:Feb 2005	Message Posted: Nov 1, 2012 8:09:57 AM Ignore kyjlh Report Abuse good retirement and he done research first
jethro5000 Champion Author Kentucky Posts:1,887 Points:393,185 Joined:Jun 2005	Message Posted: Nov 1, 2012 6:59:37 AM Ignore jethro5000 Report Abuse ??
MAC48 Champion Author Dallas Posts:1,550 Points:767,825 Joined:Dec 2006	Message Posted: Nov 1, 2012 12:50:52 AM Ignore MAC48 Report Abuse Aviator Rob -- Once a successful, i.e. finds sufficient quantities of oil or gas, well is drilled and starts producing, the likely hood that the drilling/production company will stop producing, cap the well and move to new sites is quite slim since the company will definitely want to produce enough oil or gas or both from that well to pay for the cost of drilling the well in the first place. It is irrelevant that other fields open up. The only reason that producing wells are caped is that the well quits producing and then requires redrilling or fracking to get the well producing again which means a new decision point on whether the additional cost to get the "old" well producing again can be cost justified. PS - The wife and her two brothers have 50% rights on 600 acres of land down near Comanche Texas that they would be glad for some company to explore.
OGW Champion Author London Posts:5,329 Points:1,532,975 Joined:Sep 2005	Message Posted: Nov 1, 2012 12:10:07 AM Ignore OGW Report Abuse By drilling on private land, more individuals can build a good retirement fund for themselves and their family.
OGW Champion Author London Posts:5,329 Points:1,532,975 Joined:Sep 2005	Message Posted: Nov 1, 2012 12:02:46 AM Ignore OGW Report Abuse Better driprite land so at least the landowner gets some good return as much of their land will be useless after the drilling companies leave.
Aviator_Rob Champion Author New York Posts:3,805 Points:415,365 Joined:Mar 2012	Message Posted: Oct 31, 2012 11:58:11 PM Ignore Aviator_Rob Report Abuse If the government opens up drilling on public land, won't Big Oil just drill there? No more high priced mineral rights and leases for the private landowners? There goes the gravy train.
pbear316 Champion Author Akron Posts:2,040 Points:679,090 Joined:Apr 2011	Message Posted: Oct 31, 2012 11:55:41 PM Ignore pbear316 Report Abuse Ok
Aviator_Rob Champion Author New York Posts:3,805 Points:415,365 Joined:Mar 2012	Message Posted: Oct 31, 2012 11:54:33 PM Ignore Aviator_Rob Report Abuse Can cows survive on fracking fluid? They'll be drinking plenty of it.
WIWalt Champion Author Wisconsin Posts:1,736 Points:416,745 Joined:Mar 2012	Message Posted: Oct 31, 2012 11:53:45 PM Ignore WIWalt Report Abuse Good for him
Gas4Gore Champion Author Detroit Posts:2,426 Points:424,850 Joined:Jan 2010	Message Posted: Oct 31, 2012 11:53:28 PM Ignore Gas4Gore Report Abuse Okay
clermont40miles Champion Author Cincinnati Posts:10,583 Points:1,774,295 Joined:Apr 2008	Message Posted: Oct 31, 2012 11:52:53 PM Ignore clermont40miles Report Abuse Frack early. Frack often. Produce. Transport. Sell. Green is red.
drpepperTX Champion Author Texas Posts:8,953 Points:754,120 Joined:Apr 2011	Message Posted: Oct 31, 2012 11:51:36 PM Ignore drpepperTX Report Abuse "I'm curious to find out how much the land is worth after fracking. My guess is: not munch." =================== Your guess is wrong, as a Realtor I can tell you that oil and gas production enhance land values. We have an old saying here in Texas. "An oil well in the south forty is improved pasture!"
mageetp Champion Author British Columbia Posts:3,220 Points:627,910 Joined:Aug 2011	Message Posted: Oct 31, 2012 11:47:47 PM Ignore mageetp Report Abuse Looks like they did all right, good for them.
regasaz Champion Author Phoenix Posts:5,775 Points:1,283,130 Joined:Dec 2006	Message Posted: Oct 31, 2012 11:45:22 PM Ignore regasaz Report Abuse As well they should.
GRUMPY55 Champion Author California Posts:1,629 Points:424,250 Joined:Oct 2011	Message Posted: Oct 31, 2012 11:44:38 PM Ignore GRUMPY55 Report Abuse ok
naspa Champion Author Cleveland Posts:1,281 Points:354,100 Joined:Jan 2012	Message Posted: Oct 31, 2012 11:42:42 PM Ignore naspa Report Abuse I'm curious to find out how much the land is worth after fracking. My guess is: not munch.
SavALot Champion Author Virginia Beach Posts:8,479 Points:1,713,110 Joined:Apr 2005	Message Posted: Oct 31, 2012 11:37:04 PM Ignore SavALot Report Abuse Isn't this the way it should be?
ican2step Champion Author Pittsburgh Posts:1,691 Points:429,350 Joined:Feb 2012	Message Posted: Oct 31, 2012 11:30:24 PM Ignore ican2step Report Abuse Sweet
abcdMA Champion Author Worcester Posts:7,932 Points:1,576,930 Joined:Nov 2008	Message Posted: Oct 31, 2012 11:27:51 PM Ignore abcdMA Report Abuse at least some people can benefit here, the rest of us suffer the dire consequences of failed leadership
Greenbuck97 Champion Author Tennessee Posts:5,921 Points:818,635 Joined:Mar 2008	Message Posted: Oct 31, 2012 11:24:22 PM Ignore Greenbuck97 Report Abuse They're be somebody there to help. next gen business.
acknot Champion Author Seattle Posts:1,628 Points:873,445 Joined:Sep 2003	Message Posted: Oct 31, 2012 11:22:52 PM Ignore acknot Report Abuse When the lease runs out, I wonder if the soil will be able to support any crop at all.
BizBombe Rookie Author Baltimore Posts:90 Points:192,350 Joined:Sep 2012	Message Posted: Oct 31, 2012 11:20:27 PM Ignore BizBombe Report Abuse more greed
Is246 Champion Author Albuquerque Posts:1,019 Points:428,710 Joined:Apr 2011	Message Posted: Oct 31, 2012 11:17:15 PM Ignore Is246 Report Abuse Interesting.
DustyHorse Champion Author Virginia Posts:6,093 Points:1,393,570 Joined:Oct 2008	Message Posted: Oct 31, 2012 11:15:02 PM Ignore DustyHorse Report Abuse You bet the landowners are making some money.
wayoung56 Champion Author Alabama Posts:2,810 Points:820,285 Joined:Oct 2006	Message Posted: Oct 31, 2012 11:13:54 PM Ignore wayoung56 Report Abuse Interesting article...
humblepie Champion Author Toledo Posts:34,295 Points:2,373,320 Joined:Mar 2006	Message Posted: Oct 31, 2012 11:13:30 PM Ignore humblepie Report Abuse thank god for governor kasich
36IHBinder Champion Author Illinois Posts:2,968 Points:645,040 Joined:Jun 2011	Message Posted: Oct 31, 2012 11:11:51 PM Ignore 36IHBinder Report Abuse I have read both sides. Not sure who to believe what is right and good
jrsva Champion Author Virginia Posts:9,863 Points:1,614,950 Joined:Jan 2006	Message Posted: Oct 31, 2012 11:10:57 PM Ignore jrsva Report Abuse “Ohio's economy stands to gain $4.8 billion and roughly 65,000 new jobs by 2014, according to a study by researchers at several Ohio universities . . . .” And still some of these GB wingnuts keep shouting that the Obama administration is stifling oil and gas development. Pull heads from sand and look around; we’re producing more oil now than for years and there is a glut of natural gas.
LCSTEELERBOB Champion Author Gary Posts:2,961 Points:720,130 Joined:Oct 2008	Message Posted: Oct 31, 2012 11:10:44 PM Ignore LCSTEELERBOB Report Abuse wish i could
chillyman3 Champion Author Illinois Posts:1,355 Points:425,890 Joined:Jan 2012	Message Posted: Oct 31, 2012 11:08:42 PM Ignore chillyman3 Report Abuse Ok
BREW9 All-Star Author Tampa Posts:891 Points:2,913,930 Joined:Jun 2004	Message Posted: Oct 31, 2012 11:05:31 PM Ignore BREW9 Report Abuse ok
mstearno Champion Author Dayton Posts:8,075 Points:1,733,165 Joined:Jan 2008	Message Posted: Oct 31, 2012 10:57:53 PM Ignore mstearno Report Abuse shouldn't they? or should we spread that wealth also?
PizzaMon Champion Author Philadelphia Posts:5,134 Points:1,863,405 Joined:Jun 2006	Message Posted: Oct 31, 2012 10:57:36 PM Ignore PizzaMon Report Abuse Lucky landowners.
Blue48 Champion Author Illinois Posts:7,315 Points:1,639,895 Joined:Feb 2007	Message Posted: Oct 31, 2012 10:53:49 PM Ignore Blue48 Report Abuse GOOD NEWS FOR SOMEBODY!
southrob Champion Author Tucson Posts:3,605 Points:689,150 Joined:Mar 2011	Message Posted: Oct 31, 2012 10:52:59 PM Ignore southrob Report Abuse dhan for a better economy
diesel8888 Champion Author Salt Lake City Posts:1,202 Points:361,335 Joined:Nov 2011	Message Posted: Oct 31, 2012 10:51:36 PM Ignore diesel8888 Report Abuse Ok
ruca2012 Champion Author San Diego Posts:1,074 Points:215,140 Joined:Oct 2012	Message Posted: Oct 31, 2012 10:51:08 PM Ignore ruca2012 Report Abuse alright
bcok Champion Author Los Angeles Posts:2,126 Points:1,544,495 Joined:Oct 2005	Message Posted: Oct 31, 2012 10:49:15 PM Ignore bcok Report Abuse ok
Vitobug Champion Author El Paso Posts:1,955 Points:641,435 Joined:May 2011	Message Posted: Oct 31, 2012 10:49:04 PM Ignore Vitobug Report Abuse ok
hcivic Champion Author Virginia Posts:3,859 Points:2,266,690 Joined:Aug 2005	Message Posted: Oct 31, 2012 10:47:04 PM Ignore hcivic Report Abuse sure they r
jalan25 Champion Author Indianapolis Posts:2,345 Points:572,670 Joined:Sep 2011	Message Posted: Oct 31, 2012 10:42:05 PM Ignore jalan25 Report Abuse Lucky for him
VanIsleLes All-Star Author British Columbia Posts:898 Points:277,745 Joined:Jun 2012	Message Posted: Oct 31, 2012 10:40:14 PM Ignore VanIsleLes Report Abuse Good
skybiker Champion Author South Carolina Posts:7,303 Points:1,561,240 Joined:Jul 2008	Message Posted: Oct 31, 2012 10:37:24 PM Ignore skybiker Report Abuse Everybody profits...good
Dodge_Me Champion Author Atlanta Posts:2,214 Points:557,730 Joined:Mar 2006	Message Posted: Oct 31, 2012 10:36:26 PM Ignore Dodge_Me Report Abuse Good for them
Mr_Bill_W All-Star Author Virginia Posts:566 Points:359,760 Joined:Feb 2012	Message Posted: Oct 31, 2012 10:33:35 PM Ignore Mr_Bill_W Report Abuse Okay..
30mpg80 Champion Author Lexington Posts:10,053 Points:1,489,805 Joined:Nov 2008	Message Posted: Oct 31, 2012 10:33:28 PM Ignore 30mpg80 Report Abuse Mineral rights can more than pay for tearing up some land.
DEG Champion Author Las Vegas Posts:17,630 Points:3,496,655 Joined:Jul 2003	Message Posted: Oct 31, 2012 10:33:11 PM Ignore DEG Report Abuse Good for the land owners that have mineral rights.
megadiesellv Champion Author Atlanta Posts:1,474 Points:503,585 Joined:Sep 2011	Message Posted: Oct 31, 2012 10:32:47 PM Ignore megadiesellv Report Abuse of course, got to get paid. Evil capitalists lol.
nwsynthetics Champion Author Oregon Posts:1,014 Points:347,025 Joined:Dec 2011	Message Posted: Oct 31, 2012 10:32:31 PM Ignore nwsynthetics Report Abuse Great story. Glad it worked out. More could be like that if they open up more exploration and drilling. Vote for Mitt. We need a change.
barbs24 Champion Author Virginia Beach Posts:3,149 Points:2,042,520 Joined:Feb 2006	Message Posted: Oct 31, 2012 10:31:27 PM Ignore barbs24 Report Abuse Lucky landowners