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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:1,751 Points:679,920 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:2,018 Points:418,935 Joined:Jun 2005	Message Posted: Nov 1, 2012 3:59:37 AM Ignore jethro5000 Report Abuse ??
MAC48 Champion Author Dallas Posts:1,580 Points:789,275 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:5,446 Points:1,558,085 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:5,446 Points:1,558,085 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:3,992 Points:440,815 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:2,160 Points:704,390 Joined:Apr 2011	Message Posted: Oct 31, 2012 8:55:41 PM Ignore pbear316 Report Abuse Ok
Aviator_Rob Champion Author New York Posts:3,992 Points:440,815 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:1,852 Points:441,965 Joined:Mar 2012	Message Posted: Oct 31, 2012 8:53:45 PM Ignore WIWalt Report Abuse Good for him
Gas4Gore Champion Author Detroit Posts:2,524 Points:444,225 Joined:Jan 2010	Message Posted: Oct 31, 2012 8:53:28 PM Ignore Gas4Gore Report Abuse Okay
clermont40miles Champion Author Cincinnati Posts:10,754 Points:1,800,345 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:9,164 Points:779,850 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:3,350 Points:654,410 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:5,779 Points:1,300,785 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:1,671 Points:434,115 Joined:Oct 2011	Message Posted: Oct 31, 2012 8:44:38 PM Ignore GRUMPY55 Report Abuse ok
naspa Champion Author Cleveland Posts:1,417 Points:379,850 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:8,618 Points:1,739,185 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:1,811 Points:452,400 Joined:Feb 2012	Message Posted: Oct 31, 2012 8:30:24 PM Ignore ican2step Report Abuse Sweet
abcdMA Champion Author Worcester Posts:8,052 Points:1,600,730 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:5,987 Points:827,445 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 Sophomore Author Baltimore Posts:100 Points:212,500 Joined:Sep 2012	Message Posted: Oct 31, 2012 8:20:27 PM Ignore BizBombe Report Abuse more greed
Is246 Champion Author Albuquerque Posts:1,044 Points:443,535 Joined:Apr 2011	Message Posted: Oct 31, 2012 8:17:15 PM Ignore Is246 Report Abuse Interesting.
DustyHorse Champion Author Virginia Posts:6,222 Points:1,417,740 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:2,920 Points:845,010 Joined:Oct 2006	Message Posted: Oct 31, 2012 8:13:54 PM Ignore wayoung56 Report Abuse Interesting article...
humblepie Champion Author Toledo Posts:35,351 Points:2,399,070 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:3,098 Points:670,790 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:9,999 Points:1,639,950 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:720,580 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:445,390 Joined:Jan 2012	Message Posted: Oct 31, 2012 8:08:42 PM Ignore chillyman3 Report Abuse Ok
BREW9 Champion Author Tampa Posts:1,020 Points:2,940,510 Joined:Jun 2004	Message Posted: Oct 31, 2012 8:05:31 PM Ignore BREW9 Report Abuse ok
mstearno Champion Author Dayton Posts:8,174 Points:1,755,920 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:1,886,455 Joined:Jun 2006	Message Posted: Oct 31, 2012 7:57:36 PM Ignore PizzaMon Report Abuse Lucky landowners.
Blue48 Champion Author Illinois Posts:7,445 Points:1,665,645 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:3,736 Points:714,900 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:1,309 Points:386,135 Joined:Nov 2011	Message Posted: Oct 31, 2012 7:51:36 PM Ignore diesel8888 Report Abuse Ok
ruca2012 Champion Author San Diego Posts:1,205 Points:240,890 Joined:Oct 2012	Message Posted: Oct 31, 2012 7:51:08 PM Ignore ruca2012 Report Abuse alright
bcok Champion Author Los Angeles Posts:2,181 Points:1,555,520 Joined:Oct 2005	Message Posted: Oct 31, 2012 7:49:15 PM Ignore bcok Report Abuse ok
Vitobug Champion Author El Paso Posts:1,979 Points:663,190 Joined:May 2011	Message Posted: Oct 31, 2012 7:49:04 PM Ignore Vitobug Report Abuse ok
hcivic Champion Author Virginia Posts:3,989 Points:2,292,440 Joined:Aug 2005	Message Posted: Oct 31, 2012 7:47:04 PM Ignore hcivic Report Abuse sure they r
jalan25 Champion Author Indianapolis Posts:2,450 Points:597,295 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:295,295 Joined:Jun 2012	Message Posted: Oct 31, 2012 7:40:14 PM Ignore VanIsleLes Report Abuse Good
skybiker Champion Author South Carolina Posts:7,408 Points:1,586,615 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:576,480 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:586 Points:379,710 Joined:Feb 2012	Message Posted: Oct 31, 2012 7:33:35 PM Ignore Mr_Bill_W Report Abuse Okay..
30mpg80 Champion Author Lexington Posts:10,265 Points:1,514,580 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:17,745 Points:3,519,480 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:1,019 Points:354,400 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:3,277 Points:2,068,230 Joined:Feb 2006	Message Posted: Oct 31, 2012 7:31:27 PM Ignore barbs24 Report Abuse Lucky landowners