[ARCHIVED THREAD] - Financial Windfall! Seriously! (Page 1 of 2)
Posted: 12/15/2011 12:25:59 PM EDT
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Well not yet but it is a real possibility. My sister, brother and I bought 50 acres a couple years back. On the Marcellus shale here in PA. Although our deed did not convey the coal rights we own the rest. There was some doubt on what we actualy owned as there is precedent under review that seperates mineral rights from gas and oil rights here in PA that dates back to the 1800's. Well after the attorney reviewed the deed, we found that the deed specifically stated that the coal rights was not conveyed and it excluded any other substrate items meaning we do, in fact, own everything else under the surface because the coal is not listed as "mineral rights" and not explicitly stated otherwise.
So, the gas companies are starting to show up around the area(SWPA) and some leases have already been signed in ajacent areas ranging $5k-$7k per acre plus future royalties. The attorney said to have any offer reviewed by he or another competant lawyer as there are at least six figure values that will be lobbed at us. |
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wow! very cool. How did you and your sister end up buying it in the first place? Word of mouth. Timber company loggeg it and wanted out. I heard from my cousin who is married to the guy that did the cutting. We called them, went back and forth on the price and finally settled on a price. It was pretty easy as they wanted to sell, we wanted to buy and there was no realtor in the middle. Just an attorney to draw up the deed and the bank to get the mortgage that is almost paid off anyway. |
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You guys are funny! Lol.
Its nothing yet, there is very little in gas infrastructure in that part of the state right now but they are working on it. Any real development for individual property owners is still a couple years off. The people selling out now are probably getting low balled. One thing nice that the NE part of the state is the "beta test" for everyone else. The lawsuits and prices will all be sorted out. My uncle in NEPA sold out for 2750/acre and no royalties. His neighbor held out for six months longer and got 5500/acre no royalties. My cousin in the same area sold out for $5k/acre and no royalties. Now people are getting smart and selling a lump sum for so many years of production and then royalties after that at higher per acre prices than listed above. The data shows that the shale is more than initailly thought across the state so the market is adjusting accordingly. IF and I say IF this pans out we plan to reinvest the earnings. Pay off the remainder of the initial loan ~$30k and look at buying a rental property at the shore in NJ or MD. There are some great prices out there on multi-unit rentals right on the beach in resort towns. Saw a beautiful duplex for $200k that rents for $4k per week in the summer in OC. |
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Quoted: Quoted: Quoted: Well I hope for your sake you don't ever want to live there or sink a water well. You are completely misinformed.  So are you saying that fracking chemicals do not show up in underground drinking water sources? http://www.askchesapeake.com/Marcellus-Shale/Pages/default.aspx?gclid=CLvgsf-Pha0CFcNo4AodIVF54g |
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Pics of sister? I want to see what the future Mrs. Schlange looks like.  Lol She is married. Funny factoid.. My BiL was dead against her buying this land with us as he isnt from the stix and saw no value in owning what he called "a bunch of trees and stciker bushes". So he told her this is her venture on her own so when she mentioed the gas issue, he wanted to know all kinds of stuff about the property. She told him to find his own investment scheme because this is hers. Lol! |
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Quoted: Quoted: Pics of sister? I want to see what the future Mrs. Schlange looks like. Lol She is married. Funny factoid.. My BiL was dead against her buying this land with us as he isnt from the stix and saw no value in owning what he called "a bunch of trees and stciker bushes". So he told her this is her venture on her own so when she mentioed the gas issue, he wanted to know all kinds of stuff about the property. She told him to find his own investment scheme because this is hers. Lol! Let me know when her divorce is final.  |
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Kid (30 year old) I work with is getting a check for $140,000 (after taxes amount, mind you) in January for the lease of his 40-50 acres, with more payments if they drill and royalties if they extract gas.
Tragic that his dad died in a wreck last year, but that allowed him to inherit the farm and get the property squared away in his name before the energy boom started sweeping in. |
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Quoted: Quoted: Quoted: Quoted: Well I hope for your sake you don't ever want to live there or sink a water well. You are completely misinformed. So are you saying that fracking chemicals do not show up in underground drinking water sources? http://www.askchesapeake.com/Marcellus-Shale/Pages/default.aspx?gclid=CLvgsf-Pha0CFcNo4AodIVF54g     I am just assuming you are joking posting the story written by a gas drilling company about a study done by a state government that is a wholly owned subsidiary of the gas industry. A study that still included this telling cavaeat... The study indicates that this standardized list should include bromide. The research found that bromide levels in some water wells increased after drilling and/or fracking. These increases may suggest more subtle impacts to groundwater and the need for more research. |
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Well I hope for your sake you don't ever want to live there or sink a water well. You are completely misinformed.
So are you saying that fracking chemicals do not show up in underground drinking water sources? http://www.askchesapeake.com/Marcellus-Shale/Pages/default.aspx?gclid=CLvgsf-Pha0CFcNo4AodIVF54g
I am just assuming you are joking posting the story written by a gas drilling company about a study done by a state government that is a wholly owned subsidiary of the gas industry. A study that still included this telling cavaeat... The study indicates that this standardized list should include bromide. The research found that bromide levels in some water wells increased after drilling and/or fracking. These increases may suggest more subtle impacts to groundwater and the need for more research. So I suppose you will come back with an article from the wholly owned environmental scientist for the EPA saying the exact opposite. That people are dying of cancer within days of wells being sunk? |
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Congratulations. I know you've had some ups and downs, and I'm glad to see you have an 'up'.  Indeed. And many thanks my friend. But it is all speculation right now. In any event I am just happy to have th eproperty for my family. we bought it to keep our family legacy alive. Ours is a rural family, my mother and her parents from the area and relocating when she was in HS to SEPA for better opportunity. My grandparents and my family believed that where they came from defined who they were. As they worked hard, took no hand outs and paved their own way, I agree. |
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Quoted: No that is what makes it easy for them to do this, they sink the wells now the water gets polluted over many years then 20 years later people start getting cancer and then people look back and try and figure out what happened.Quoted: Quoted: Quoted: Quoted: Quoted: Well I hope for your sake you don't ever want to live there or sink a water well. You are completely misinformed. So are you saying that fracking chemicals do not show up in underground drinking water sources? http://www.askchesapeake.com/Marcellus-Shale/Pages/default.aspx?gclid=CLvgsf-Pha0CFcNo4AodIVF54g I am just assuming you are joking posting the story written by a gas drilling company about a study done by a state government that is a wholly owned subsidiary of the gas industry. A study that still included this telling cavaeat... The study indicates that this standardized list should include bromide. The research found that bromide levels in some water wells increased after drilling and/or fracking. These increases may suggest more subtle impacts to groundwater and the need for more research. So I suppose you will come back with an article from the wholly owned environmental scientist for the EPA saying the exact opposite. That people are dying of cancer within days of wells being sunk? |