Anyone here benefitting from the Shale/Gas land leases? (homes, live)

[sp2007]

I was just curious if anyone here on these boards have land that is currently be drilled on and getting royalties for.

Thanks for sharing.

[nkotb]

No drilling in my area, but yes in the outlying areas there is drilling. I haven't heard anything about how the royalties are paid. Chesapeake paid out lots of money for the drilling rights !!

[kps88]

confused. any ino on this? I have shale on my property (underground of course).

[KarenRice]

kps88, what are you confused about?

[MermanMike]

kps--There is a large natural gas play that is being developed in northeast PA (and NY state, and Ohio, etc.) called the Marcellus shale. The natural gas is trapped in shale deposits many miles below the surface of our land. Seeing shale below your garden dirt is a different thing entirely...here is some more information: Marcellus Shale Gas: New Research Results Surprise Geologists!

sp--Yes, I know people making money off of the gas on their land. Thousands of people have received up front money, and the relatively small number of wells that are in production are producing well and paying out a lot of money in royalties.

[kps88]

Originally Posted by MermanMike

kps--There is a large natural gas play that is being developed in northeast PA (and NY state, and Ohio, etc.) called the Marcellus shale. The natural gas is trapped in shale deposits many miles below the surface of our land. Seeing shale below your garden dirt is a different thing entirely...here is some more information: Marcellus Shale Gas: New Research Results Surprise Geologists!

sp--Yes, I know people making money off of the gas on their land. Thousands of people have received up front money, and the relatively small number of wells that are in production are producing well and paying out a lot of money in royalties.

Thanks for the info and link. I actually live on shale. many of the properties in my development had their homes built on shale. does this mean anything? the info seemed more for like retail land (large areas) than a homeowner's 1/2 acre land/plot.

[kps88]

Originally Posted by KarenRice

kps88, what are you confused about?

how people get paid royalties for having shale on their property, etc. never heard of it.

[wanneroo]

Originally Posted by kps88

how people get paid royalties for having shale on their property, etc. never heard of it.

You don't get paid royalties just for anything. You have to be in a "zone" of a nearby well and have a lease.

[nkotb]

Most of my neighbors signed for $2000. an acre and less several years ago. Some of us held out and we recently signed for $5750. an acre and 20% royalties !!

[sp2007]

Thanks guys.

MY parents have land in NEPA and they were offered 1500 per acre paid out over 3 years. But there was a clause that said the gas company could back out after 90 days but the contract was binding on my parents for the full term. They said no.

Was that a bad/good deal?