Much to the delight of the community, our little town is sitting upon a 20 year reserve of natural gas. It has never been drilled before, because the price of natural gas has not been high enough to warrant getting to this reserve. This reserve has been hard to get to because of the shale that has to be cracked to get down to the gas, plus they have to do horizontal drilling which is a fairly new/costly technology.
Every weekend I see gas folks walking the neighborhood, trying to get people to lease their mineral rights and give them access to the gas under their property. At the same time homeowner associations are banding together to try to negotiate better lease agreements between neighborhoods and the big gas companies that have come to town to court homeowners. There is strength in numbers. The media has begun to talk about these activities, and one comment this morning was"our part of the country will not see a recession because the gas reserve is our own little stimulus package".
The people who own the land where a drill site is located and people with large pieces of property, will fair pretty well. I just don't know how much income this will actually generate for a homeowner. Nevertheless, if it were a little warmer, I'd invite the neighbors over to have a BBQ to celebrate our good fortune and we'd all take a dip in the cement pond.
1 comment:
Woo-hoo! You and Jed and the kids can really celebrate this! Actually, the oil & gas guys were at my parents' house before my last visit and my parents signed off on whatever the oil & gas guys asked. I hated that, knowing that they might have held out for more, but I wasn't around to help out. I hope you all each get a portion anyway!
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