Tracking the Economic Growth (Jobs, Housing, Investment & Information)
Due to Shale Play Developments in the Ohio Valley Tri-State Area
Wow ... the money to be made in leasing land, oil, gas, and mineral rights!
The boom in the Ohio Valley area has resulted in thousands of leases being negotiated between landowners or oil/gas/mineral right owners and production or other drilling-related companies.
It is has become so widespread and common in this area that there have been numerous meetings held for the public to create a greater understanding of the process, groups of landowners banding together to sell their land or oil/gas/mineral rights collectively to potential purchasers to get a better rate, etc. These terms, though not widely heard in recent years past, are now often times a regular subject of discussion among members of the community.
Landowners have the opportunity to lease the oil/gas/mineral rights on their land and also enjoy royalties from any production resulting from those extractions. This is done through the execution of an Oil and Gas Mineral Lease. It is strongly suggested that this legal document be reviewed by an attorney with that area of expertise to protect the landowner or oil/gas/mineral rights owner and to ensure there is a thorough understanding of what exactly is being negotiated.
The rates that were quoted just a few year ago were in the area of $100-$200 per acre plus 16% royalties are now up as high as $5,000 per acre plus 19.5% royalties ... and apparently still climbing!
And the boom ... is BOOMING!