Owning Land

Oil and gas leases

A boom is happening in places with oil and gas reserves. Deep “plays” are now economically feasible where they weren’t two years ago when oil was a lot cheaper.

In West Virginia, Pennsylvania and New York, gas in the Marcellus shale is in play. Acreage is being leased and drilled; pipelines are planned. Similar frenzies are occurring in Texas, Wyoming, South Dakota, Arkansas and other locales.

Landowners need to educate themselves about the language in these leases and what their lease rights are worth.

The West Virginia Surface Owners’ Rights Organization (www.wvsoro.org) is working with the West Virginia Farm Bureau to educate property owners. These folks are not against leasing and o&g production; they’re for fair compensation. The WVSORO website links to all state o&g laws as well as posts regarding the dollar amount of current offers for acreage and royalties. Everything is negotiable. Lawyers working for landowners are listed, along with other resources.

I’m interested in hearing what’s going on around the country, from the landowners’ perspective.

This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of LANDTHINK. Use of this content without permission is a violation of federal copyright law. The articles, posts, comments, opinions and information provided by LANDTHINK are for informational and research purposes only and DOES NOT substitute or coincide with the advice of an attorney, accountant, real estate broker or any other licensed real estate professional. LANDTHINK strongly advises visitors and readers to seek their own professional guidance and advice related to buying, investing in or selling real estate.

About the author

Curtis Seltzer

Curtis Seltzer is a land consultant, columnist and author of How To Be a DIRT-SMART Buyer of Country Property, available at Curtis-Seltzer.com where his columns are posted. He also does commentary for Virginia public radio. His new book, Land Matters: The “Country Real Estate” Columns, 2007-2009, which includes 14 commentaries on CD.

1 Comment

Click here to post a comment

  • Do I have oil or gas on my land? How would I know? I have approx 1 acre isolated on my property which is completely different than the rest. The ground is black shale, flaky like mica with geodes in the mix. Nothing grows well there and what does like oaks, they are old but small.

    What do think? Where would I go to find out more about this oddity?

The Pulse

Do you want to help the victims of Hurricane Harvey on behalf of the land community?

DONATE

THE PULSE SPONSORED BY:

LANDFLIP