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Fracking: Landowners profit from oil and gas boom

WKYC.com -- The garden on Richard Faber's farm produces all sorts of fruits and vegetables, from tomatoes to watermelons.

Turns out Faber's land is rich in natural gas and oil, at least that was the bet investors were willing to take when they approached him about leasing his mineral rights to them.

Faber ended up leasing land to Shale Investments for a price: $701,580. But, he says, he did extensive research search before signing a lease and attended several meetings held by companies who were interested in his land.

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Submitted Oct 31, 2012 By: drpepperTX

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kyjlh Champion Author Kentucky Posts:1,622 Points:652,635 Joined:Feb 2005	Message Posted: Nov 1, 2012 5:09:57 AM Ignore kyjlh Report Abuse good retirement and he done research first
jethro5000 Champion Author Kentucky Posts:1,877 Points:391,235 Joined:Jun 2005	Message Posted: Nov 1, 2012 3:59:37 AM Ignore jethro5000 Report Abuse ??
MAC48 Champion Author Dallas Posts:1,547 Points:766,090 Joined:Dec 2006	Message Posted: Oct 31, 2012 9:50:52 PM Ignore MAC48 Report Abuse Aviator Rob -- Once a successful, i.e. finds sufficient quantities of oil or gas, well is drilled and starts producing, the likely hood that the drilling/production company will stop producing, cap the well and move to new sites is quite slim since the company will definitely want to produce enough oil or gas or both from that well to pay for the cost of drilling the well in the first place. It is irrelevant that other fields open up. The only reason that producing wells are caped is that the well quits producing and then requires redrilling or fracking to get the well producing again which means a new decision point on whether the additional cost to get the "old" well producing again can be cost justified. PS - The wife and her two brothers have 50% rights on 600 acres of land down near Comanche Texas that they would be glad for some company to explore.
OGW Champion Author London Posts:5,324 Points:1,531,150 Joined:Sep 2005	Message Posted: Oct 31, 2012 9:10:07 PM Ignore OGW Report Abuse By drilling on private land, more individuals can build a good retirement fund for themselves and their family.
OGW Champion Author London Posts:5,324 Points:1,531,150 Joined:Sep 2005	Message Posted: Oct 31, 2012 9:02:46 PM Ignore OGW Report Abuse Better driprite land so at least the landowner gets some good return as much of their land will be useless after the drilling companies leave.
Aviator_Rob Champion Author New York Posts:3,795 Points:413,315 Joined:Mar 2012	Message Posted: Oct 31, 2012 8:58:11 PM Ignore Aviator_Rob Report Abuse If the government opens up drilling on public land, won't Big Oil just drill there? No more high priced mineral rights and leases for the private landowners? There goes the gravy train.
pbear316 Champion Author Akron Posts:2,030 Points:677,140 Joined:Apr 2011	Message Posted: Oct 31, 2012 8:55:41 PM Ignore pbear316 Report Abuse Ok
Aviator_Rob Champion Author New York Posts:3,795 Points:413,315 Joined:Mar 2012	Message Posted: Oct 31, 2012 8:54:33 PM Ignore Aviator_Rob Report Abuse Can cows survive on fracking fluid? They'll be drinking plenty of it.
WIWalt Champion Author Wisconsin Posts:1,726 Points:415,545 Joined:Mar 2012	Message Posted: Oct 31, 2012 8:53:45 PM Ignore WIWalt Report Abuse Good for him
Gas4Gore Champion Author Detroit Posts:2,416 Points:422,900 Joined:Jan 2010	Message Posted: Oct 31, 2012 8:53:28 PM Ignore Gas4Gore Report Abuse Okay
clermont40miles Champion Author Cincinnati Posts:10,569 Points:1,771,920 Joined:Apr 2008	Message Posted: Oct 31, 2012 8:52:53 PM Ignore clermont40miles Report Abuse Frack early. Frack often. Produce. Transport. Sell. Green is red.
drpepperTX Champion Author Texas Posts:8,945 Points:752,210 Joined:Apr 2011	Message Posted: Oct 31, 2012 8:51:36 PM Ignore drpepperTX Report Abuse "I'm curious to find out how much the land is worth after fracking. My guess is: not munch." =================== Your guess is wrong, as a Realtor I can tell you that oil and gas production enhance land values. We have an old saying here in Texas. "An oil well in the south forty is improved pasture!"
mageetp Champion Author British Columbia Posts:3,210 Points:626,710 Joined:Aug 2011	Message Posted: Oct 31, 2012 8:47:47 PM Ignore mageetp Report Abuse Looks like they did all right, good for them.
regasaz Champion Author Phoenix Posts:5,775 Points:1,281,630 Joined:Dec 2006	Message Posted: Oct 31, 2012 8:45:22 PM Ignore regasaz Report Abuse As well they should.
GRUMPY55 Champion Author California Posts:1,629 Points:423,500 Joined:Oct 2011	Message Posted: Oct 31, 2012 8:44:38 PM Ignore GRUMPY55 Report Abuse ok
naspa Champion Author Cleveland Posts:1,271 Points:352,150 Joined:Jan 2012	Message Posted: Oct 31, 2012 8:42:42 PM Ignore naspa Report Abuse I'm curious to find out how much the land is worth after fracking. My guess is: not munch.
SavALot Champion Author Virginia Beach Posts:8,469 Points:1,711,610 Joined:Apr 2005	Message Posted: Oct 31, 2012 8:37:04 PM Ignore SavALot Report Abuse Isn't this the way it should be?
ican2step Champion Author Pittsburgh Posts:1,681 Points:426,650 Joined:Feb 2012	Message Posted: Oct 31, 2012 8:30:24 PM Ignore ican2step Report Abuse Sweet
abcdMA Champion Author Worcester Posts:7,922 Points:1,574,980 Joined:Nov 2008	Message Posted: Oct 31, 2012 8:27:51 PM Ignore abcdMA Report Abuse at least some people can benefit here, the rest of us suffer the dire consequences of failed leadership
Greenbuck97 Champion Author Tennessee Posts:5,919 Points:818,595 Joined:Mar 2008	Message Posted: Oct 31, 2012 8:24:22 PM Ignore Greenbuck97 Report Abuse They're be somebody there to help. next gen business.
acknot Champion Author Seattle Posts:1,628 Points:873,445 Joined:Sep 2003	Message Posted: Oct 31, 2012 8:22:52 PM Ignore acknot Report Abuse When the lease runs out, I wonder if the soil will be able to support any crop at all.
BizBombe Rookie Author Baltimore Posts:90 Points:190,750 Joined:Sep 2012	Message Posted: Oct 31, 2012 8:20:27 PM Ignore BizBombe Report Abuse more greed
Is246 Champion Author Albuquerque Posts:1,013 Points:426,715 Joined:Apr 2011	Message Posted: Oct 31, 2012 8:17:15 PM Ignore Is246 Report Abuse Interesting.
DustyHorse Champion Author Virginia Posts:6,085 Points:1,391,805 Joined:Oct 2008	Message Posted: Oct 31, 2012 8:15:02 PM Ignore DustyHorse Report Abuse You bet the landowners are making some money.
wayoung56 Champion Author Alabama Posts:2,800 Points:818,335 Joined:Oct 2006	Message Posted: Oct 31, 2012 8:13:54 PM Ignore wayoung56 Report Abuse Interesting article...
humblepie Champion Author Toledo Posts:34,221 Points:2,371,370 Joined:Mar 2006	Message Posted: Oct 31, 2012 8:13:30 PM Ignore humblepie Report Abuse thank god for governor kasich
36IHBinder Champion Author Illinois Posts:2,958 Points:643,090 Joined:Jun 2011	Message Posted: Oct 31, 2012 8:11:51 PM Ignore 36IHBinder Report Abuse I have read both sides. Not sure who to believe what is right and good
jrsva Champion Author Virginia Posts:9,852 Points:1,613,000 Joined:Jan 2006	Message Posted: Oct 31, 2012 8:10:57 PM Ignore jrsva Report Abuse “Ohio's economy stands to gain $4.8 billion and roughly 65,000 new jobs by 2014, according to a study by researchers at several Ohio universities . . . .” And still some of these GB wingnuts keep shouting that the Obama administration is stifling oil and gas development. Pull heads from sand and look around; we’re producing more oil now than for years and there is a glut of natural gas.
LCSTEELERBOB Champion Author Gary Posts:2,961 Points:720,130 Joined:Oct 2008	Message Posted: Oct 31, 2012 8:10:44 PM Ignore LCSTEELERBOB Report Abuse wish i could
chillyman3 Champion Author Illinois Posts:1,355 Points:423,640 Joined:Jan 2012	Message Posted: Oct 31, 2012 8:08:42 PM Ignore chillyman3 Report Abuse Ok
BREW9 All-Star Author Tampa Posts:881 Points:2,911,980 Joined:Jun 2004	Message Posted: Oct 31, 2012 8:05:31 PM Ignore BREW9 Report Abuse ok
mstearno Champion Author Dayton Posts:8,066 Points:1,731,235 Joined:Jan 2008	Message Posted: Oct 31, 2012 7:57:53 PM Ignore mstearno Report Abuse shouldn't they? or should we spread that wealth also?
PizzaMon Champion Author Philadelphia Posts:5,134 Points:1,861,655 Joined:Jun 2006	Message Posted: Oct 31, 2012 7:57:36 PM Ignore PizzaMon Report Abuse Lucky landowners.
Blue48 Champion Author Illinois Posts:7,305 Points:1,637,945 Joined:Feb 2007	Message Posted: Oct 31, 2012 7:53:49 PM Ignore Blue48 Report Abuse GOOD NEWS FOR SOMEBODY!
southrob Champion Author Tucson Posts:3,595 Points:687,200 Joined:Mar 2011	Message Posted: Oct 31, 2012 7:52:59 PM Ignore southrob Report Abuse dhan for a better economy
diesel8888 Champion Author Salt Lake City Posts:1,196 Points:359,515 Joined:Nov 2011	Message Posted: Oct 31, 2012 7:51:36 PM Ignore diesel8888 Report Abuse Ok
ruca2012 Champion Author San Diego Posts:1,064 Points:213,190 Joined:Oct 2012	Message Posted: Oct 31, 2012 7:51:08 PM Ignore ruca2012 Report Abuse alright
bcok Champion Author Los Angeles Posts:2,121 Points:1,543,520 Joined:Oct 2005	Message Posted: Oct 31, 2012 7:49:15 PM Ignore bcok Report Abuse ok
Vitobug Champion Author El Paso Posts:1,955 Points:640,685 Joined:May 2011	Message Posted: Oct 31, 2012 7:49:04 PM Ignore Vitobug Report Abuse ok
hcivic Champion Author Virginia Posts:3,854 Points:2,265,715 Joined:Aug 2005	Message Posted: Oct 31, 2012 7:47:04 PM Ignore hcivic Report Abuse sure they r
jalan25 Champion Author Indianapolis Posts:2,340 Points:570,945 Joined:Sep 2011	Message Posted: Oct 31, 2012 7:42:05 PM Ignore jalan25 Report Abuse Lucky for him
VanIsleLes All-Star Author British Columbia Posts:898 Points:276,245 Joined:Jun 2012	Message Posted: Oct 31, 2012 7:40:14 PM Ignore VanIsleLes Report Abuse Good
skybiker Champion Author South Carolina Posts:7,297 Points:1,559,515 Joined:Jul 2008	Message Posted: Oct 31, 2012 7:37:24 PM Ignore skybiker Report Abuse Everybody profits...good
Dodge_Me Champion Author Atlanta Posts:2,214 Points:556,230 Joined:Mar 2006	Message Posted: Oct 31, 2012 7:36:26 PM Ignore Dodge_Me Report Abuse Good for them
Mr_Bill_W All-Star Author Virginia Posts:566 Points:358,260 Joined:Feb 2012	Message Posted: Oct 31, 2012 7:33:35 PM Ignore Mr_Bill_W Report Abuse Okay..
30mpg80 Champion Author Lexington Posts:10,028 Points:1,487,855 Joined:Nov 2008	Message Posted: Oct 31, 2012 7:33:28 PM Ignore 30mpg80 Report Abuse Mineral rights can more than pay for tearing up some land.
DEG Champion Author Las Vegas Posts:17,620 Points:3,494,705 Joined:Jul 2003	Message Posted: Oct 31, 2012 7:33:11 PM Ignore DEG Report Abuse Good for the land owners that have mineral rights.
megadiesellv Champion Author Atlanta Posts:1,474 Points:503,585 Joined:Sep 2011	Message Posted: Oct 31, 2012 7:32:47 PM Ignore megadiesellv Report Abuse of course, got to get paid. Evil capitalists lol.
nwsynthetics Champion Author Oregon Posts:1,014 Points:345,675 Joined:Dec 2011	Message Posted: Oct 31, 2012 7:32:31 PM Ignore nwsynthetics Report Abuse Great story. Glad it worked out. More could be like that if they open up more exploration and drilling. Vote for Mitt. We need a change.
barbs24 Champion Author Virginia Beach Posts:3,139 Points:2,040,570 Joined:Feb 2006	Message Posted: Oct 31, 2012 7:31:27 PM Ignore barbs24 Report Abuse Lucky landowners