Wednesday, November 23, 2011

Fracking Ohio

Fracking in Ohio has become an issue because of  Marcellus Shale. These companies pay a huge amount of money to the mineral rights to a piece of land. They pay anywhere from $100,000 to $250.000 for farm land between 50 and 100 acres. This is usually a negotiated one time lump sum payment to the land owner. 

Next they divide the land in 650 acre sections to drill in. Fracking is a practice of drilling down then sideways under the property of others. A lot of dangerous chemicals are used to pump this gas out.

If your land lies anywhere in this 650 acre plot you are entitled to royalties equal to the percent of land you own.  Once a well starts producing a land owner of a plot about the size of a 75 acre farm could receive royalty payments as high as $3,000 to $5,000 a month for as long as 10 to 15 yrs.

If you own a small farm you could be in line to receive as much as $250,000 to $500,000 for your gas rights.  This anmount of money is too large for most residents of Columbiana County to pass up. Most farmers are not thinking about their water table of the future of the water in their area. The promise of money has blinded them.


I just hope we all don't have to pay for their greed.  Time will  tell.

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