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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:1,602 Points:648,635 Joined:Feb 2005	Message Posted: Nov 1, 2012 7:09:57 AM Ignore kyjlh Report Abuse good retirement and he done research first
jethro5000 Champion Author Kentucky Posts:1,857 Points:387,235 Joined:Jun 2005	Message Posted: Nov 1, 2012 5:59:37 AM Ignore jethro5000 Report Abuse ??
MAC48 Champion Author Dallas Posts:1,546 Points:762,470 Joined:Dec 2006	Message Posted: Oct 31, 2012 11:50:52 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:1,529,650 Joined:Sep 2005	Message Posted: Oct 31, 2012 11:10:07 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:1,529,650 Joined:Sep 2005	Message Posted: Oct 31, 2012 11:02:46 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:3,776 Points:409,865 Joined:Mar 2012	Message Posted: Oct 31, 2012 10:58:11 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:2,010 Points:673,140 Joined:Apr 2011	Message Posted: Oct 31, 2012 10:55:41 PM Ignore pbear316 Report Abuse Ok
Aviator_Rob Champion Author New York Posts:3,776 Points:409,865 Joined:Mar 2012	Message Posted: Oct 31, 2012 10:54:33 PM Ignore Aviator_Rob Report Abuse Can cows survive on fracking fluid? They'll be drinking plenty of it.
WIWalt Champion Author Wisconsin Posts:1,707 Points:411,565 Joined:Mar 2012	Message Posted: Oct 31, 2012 10:53:45 PM Ignore WIWalt Report Abuse Good for him
Gas4Gore Champion Author Detroit Posts:2,401 Points:419,875 Joined:Jan 2010	Message Posted: Oct 31, 2012 10:53:28 PM Ignore Gas4Gore Report Abuse Okay
clermont40miles Champion Author Cincinnati Posts:10,543 Points:1,767,935 Joined:Apr 2008	Message Posted: Oct 31, 2012 10:52:53 PM Ignore clermont40miles Report Abuse Frack early. Frack often. Produce. Transport. Sell. Green is red.
drpepperTX Champion Author Texas Posts:8,924 Points:748,960 Joined:Apr 2011	Message Posted: Oct 31, 2012 10:51:36 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:3,190 Points:621,880 Joined:Aug 2011	Message Posted: Oct 31, 2012 10:47:47 PM Ignore mageetp Report Abuse Looks like they did all right, good for them.
regasaz Champion Author Phoenix Posts:5,775 Points:1,279,380 Joined:Dec 2006	Message Posted: Oct 31, 2012 10:45:22 PM Ignore regasaz Report Abuse As well they should.
GRUMPY55 Champion Author California Posts:1,619 Points:421,450 Joined:Oct 2011	Message Posted: Oct 31, 2012 10:44:38 PM Ignore GRUMPY55 Report Abuse ok
naspa Champion Author Cleveland Posts:1,250 Points:348,150 Joined:Jan 2012	Message Posted: Oct 31, 2012 10:42:42 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:8,454 Points:1,707,685 Joined:Apr 2005	Message Posted: Oct 31, 2012 10:37:04 PM Ignore SavALot Report Abuse Isn't this the way it should be?
ican2step Champion Author Pittsburgh Posts:1,666 Points:423,625 Joined:Feb 2012	Message Posted: Oct 31, 2012 10:30:24 PM Ignore ican2step Report Abuse Sweet
abcdMA Champion Author Worcester Posts:7,902 Points:1,570,980 Joined:Nov 2008	Message Posted: Oct 31, 2012 10:27:51 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:5,915 Points:817,665 Joined:Mar 2008	Message Posted: Oct 31, 2012 10:24:22 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 10:22:52 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:187,600 Joined:Sep 2012	Message Posted: Oct 31, 2012 10:20:27 PM Ignore BizBombe Report Abuse more greed
Is246 Champion Author Albuquerque Posts:1,007 Points:425,045 Joined:Apr 2011	Message Posted: Oct 31, 2012 10:17:15 PM Ignore Is246 Report Abuse Interesting.
DustyHorse Champion Author Virginia Posts:6,067 Points:1,387,845 Joined:Oct 2008	Message Posted: Oct 31, 2012 10:15:02 PM Ignore DustyHorse Report Abuse You bet the landowners are making some money.
wayoung56 Champion Author Alabama Posts:2,780 Points:814,335 Joined:Oct 2006	Message Posted: Oct 31, 2012 10:13:54 PM Ignore wayoung56 Report Abuse Interesting article...
humblepie Champion Author Toledo Posts:34,062 Points:2,367,370 Joined:Mar 2006	Message Posted: Oct 31, 2012 10:13:30 PM Ignore humblepie Report Abuse thank god for governor kasich
36IHBinder Champion Author Illinois Posts:2,933 Points:638,115 Joined:Jun 2011	Message Posted: Oct 31, 2012 10:11:51 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:9,830 Points:1,608,250 Joined:Jan 2006	Message Posted: Oct 31, 2012 10:10:57 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:720,030 Joined:Oct 2008	Message Posted: Oct 31, 2012 10:10:44 PM Ignore LCSTEELERBOB Report Abuse wish i could
chillyman3 Champion Author Illinois Posts:1,349 Points:421,065 Joined:Jan 2012	Message Posted: Oct 31, 2012 10:08:42 PM Ignore chillyman3 Report Abuse Ok
BREW9 All-Star Author Tampa Posts:861 Points:2,907,980 Joined:Jun 2004	Message Posted: Oct 31, 2012 10:05:31 PM Ignore BREW9 Report Abuse ok
mstearno Champion Author Dayton Posts:8,043 Points:1,727,235 Joined:Jan 2008	Message Posted: Oct 31, 2012 9:57:53 PM Ignore mstearno Report Abuse shouldn't they? or should we spread that wealth also?
PizzaMon Champion Author Philadelphia Posts:5,134 Points:1,858,805 Joined:Jun 2006	Message Posted: Oct 31, 2012 9:57:36 PM Ignore PizzaMon Report Abuse Lucky landowners.
Blue48 Champion Author Illinois Posts:7,285 Points:1,633,945 Joined:Feb 2007	Message Posted: Oct 31, 2012 9:53:49 PM Ignore Blue48 Report Abuse GOOD NEWS FOR SOMEBODY!
southrob Champion Author Tucson Posts:3,585 Points:685,150 Joined:Mar 2011	Message Posted: Oct 31, 2012 9:52:59 PM Ignore southrob Report Abuse dhan for a better economy
diesel8888 Champion Author Salt Lake City Posts:1,171 Points:355,140 Joined:Nov 2011	Message Posted: Oct 31, 2012 9:51:36 PM Ignore diesel8888 Report Abuse Ok
ruca2012 Champion Author San Diego Posts:1,044 Points:209,190 Joined:Oct 2012	Message Posted: Oct 31, 2012 9:51:08 PM Ignore ruca2012 Report Abuse alright
bcok Champion Author Los Angeles Posts:2,102 Points:1,540,290 Joined:Oct 2005	Message Posted: Oct 31, 2012 9:49:15 PM Ignore bcok Report Abuse ok
Vitobug Champion Author El Paso Posts:1,950 Points:637,360 Joined:May 2011	Message Posted: Oct 31, 2012 9:49:04 PM Ignore Vitobug Report Abuse ok
hcivic Champion Author Virginia Posts:3,834 Points:2,261,715 Joined:Aug 2005	Message Posted: Oct 31, 2012 9:47:04 PM Ignore hcivic Report Abuse sure they r
jalan25 Champion Author Indianapolis Posts:2,325 Points:567,170 Joined:Sep 2011	Message Posted: Oct 31, 2012 9:42:05 PM Ignore jalan25 Report Abuse Lucky for him
VanIsleLes All-Star Author British Columbia Posts:898 Points:273,845 Joined:Jun 2012	Message Posted: Oct 31, 2012 9:40:14 PM Ignore VanIsleLes Report Abuse Good
skybiker Champion Author South Carolina Posts:7,272 Points:1,555,415 Joined:Jul 2008	Message Posted: Oct 31, 2012 9:37:24 PM Ignore skybiker Report Abuse Everybody profits...good
Dodge_Me Champion Author Atlanta Posts:2,214 Points:553,230 Joined:Mar 2006	Message Posted: Oct 31, 2012 9:36:26 PM Ignore Dodge_Me Report Abuse Good for them
Mr_Bill_W All-Star Author Virginia Posts:566 Points:355,260 Joined:Feb 2012	Message Posted: Oct 31, 2012 9:33:35 PM Ignore Mr_Bill_W Report Abuse Okay..
30mpg80 Champion Author Lexington Posts:9,981 Points:1,483,855 Joined:Nov 2008	Message Posted: Oct 31, 2012 9:33:28 PM Ignore 30mpg80 Report Abuse Mineral rights can more than pay for tearing up some land.
DEG Champion Author Las Vegas Posts:17,605 Points:3,491,680 Joined:Jul 2003	Message Posted: Oct 31, 2012 9:33:11 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 9:32:47 PM Ignore megadiesellv Report Abuse of course, got to get paid. Evil capitalists lol.
nwsynthetics Champion Author Oregon Posts:1,009 Points:344,250 Joined:Dec 2011	Message Posted: Oct 31, 2012 9:32:31 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:3,124 Points:2,036,795 Joined:Feb 2006	Message Posted: Oct 31, 2012 9:31:27 PM Ignore barbs24 Report Abuse Lucky landowners