gas lease ramble

[nightshade]

okay so my hubby is currently at a gas lease meeting for our area. I did not go because well I can not make and impartial decision about what I have numerously called selling our soul. Anyways they are offering a heck of a lot for around here currently and the way the legal gargen is written if you do not sign in and the drill UNDER you from a neighbors land they do not have to pay you. Also if your neighbor gets a well all surrounding properties get royalties unless they are not signed in. WE as a group had a lease made up that we actually felt kinda comfortable with, written with water and land use as well as livestock protections in. But part of me is still sick over the idea, the trucks, the noise, and the damage that will undoubtedly be caused no matter what.

I must admit that the local economy could really use it. Everyone here knows at least 5 fokes that have lost their jobs during the recent rescission. Many local businesses are closing even companies that have been around close to 50 years are not immune. It is hard to watch people losing their farms and homes and not see what that kind of monies could do for the area. I know that it would make our dream of a hobby farm much easier (not that we have enough land to be getting rich over the thing or anything like that) but here I sit on the verge of needing to file for disability for my RA watching alot of our dreams and hopes drowning in my lack of a paycheck, the money would help so much right now. Even if it would never make us rich and I know so many others that are in the same positions.

Yet I can not seem to feel like we are signing a deal with the devil that decided to come around when fokes are hard up to say no.

 

[FarmerChick]

sorry for your dilemna

yea those kind of deals are scary. makes one feel like they are giving up so much, with the "buying of underground resources"

but many have done these leases and I think they come out OK.

You are leasing out the underground resource so at least you make good money and it helps the family....and the land is still yours.

These deals are always frightening in a way....let us know how yours turns out for you! best of luck in it!

 

[justusnak]

Wow Nightshade. That IS a delima. Altho it may seem they are " the devil coming when people cant say no" This may be an opportunity to help folks locally. Everyone just needs to be sure to read, read and read the contract, BEFORE signing. My grandfather had 3 gas wells in KY. Back in the day, when he sold the land, he kept the mineral rights. However, he sold the use of the gas wells to a gas company, on a 100 year contract. Back then, the $200/yr was good money. Now, it seems they are totally ripping the family off, AND, it was written in the contract, the gas company has a right to continue the contract for another 100 years. They have been pulling gas from these 3 wells for OVER 60 years, for $200/yr. Sad. Now that grandpa, and mt mother are passed away, the wells belong to us 4 kids. Wow, $50/yr...not gonna get rich there! LOL

 

[nightshade]

yea I know what you mean. I have re read the contract probably a dozen times and even though it all sounds good it still leaves me with this little voice in my head screaming.