Do you want China to profit from your land?

Read your business paper/column, please.  Chesapeake come into an area, pays the highest amount heard of, runs all the other operators out, and then sells their interests to China and India to finance their next move. 

 

They have done it with their Barnett holdings, Haynesville holdings, Eagle Ford holdings, and will be doing it with their Utica holdings.

 

There are plenty of other companies to work with that work with institutinal monies and the monies remain stateside - the biggest bonus check is not always the best bonus check.

 

Don't take it wrong, I do not have anything against capitalism, just communists practising it in my country, on my land.

 

No Chesapeake for me, I don't care how much money comes to my hand. 

 

Chesapeake, Shell (East Resources), Chevron (Atlas), Exxon (PGE), all have said they are going to run the shale business.  They have stated they will make it to where there will  only be 6 operators in the Marcellus, do you think that will be good for the local economy?  I have found smaller operators that have access to institutional monies that do complete the drilling, and they have better relationships with the landowners. 

 

Think about it - I can't change your mind, I only want everyone to consider the ramifications of just accepting the biggest check they can get.

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Replies to This Discussion

Permalink Reply by Rich Koehler on May 16, 2011 at 1:27pm
FWIW, the ALOV signed what they deemed the best lease for their area. Please note that it was NOT for the highest dollar. I'm not sure what everyone here is motivated by, but I think we all need to put the environment and the land first with the dollars second. We can sell the gas or oil, but what about what's left when it's gone?

We have a 93 acre parcel with an old storage tank sitting on it. The tank has been there since at least 1980, just sitting and slowly rusting into oblivion on the boundary between farm field and woods. I have tried to find out when it was put there, what goes with it, etc. The ODNR map that shows oil and gas activity in the state does not show this tank at all. There are many other 'artifacts' like this one left from past oil and gas activity in this area. For any one of them, there are several questions the landowner might have - Who left it, when was it left, what might be in it, who owns it, what if it's deemed an environmental hazard since if it leaked anything the contents would be in a river in short order, how can I get rid of it, etc. etc. -- these are all unanswered questions over a left over piece of oil equipment from some time in the past. What will the drillers leave on your land when they've gotten what they want from it? Are todays "roughnecks" any more conscientious than past ones?

Just suppose you sign the big buck lease as opposed to a smaller dollar one with more environmental safeguards in it. Then just suppose the company, whichever one it is, decides your land is a good place for a pumping station. When all the oil is gone, do you think they'll come in and dismantle their equipment and clean up the site, or just leave it for you? Or maybe you get to inherit a big old steel tank like we have. What will you do with it, charge admission for tourists to come and see that lovely piece of industrial design?

Don't be blinded by dollar signs, people. There's a lot more involved here than that.
Permalink Reply by mbc on May 17, 2011 at 9:16am

I had a gas/oil well on  my property 20 years, or so, ago.  When the well was drilled the previous owner never hooked into the natural gas.  When I bought the property I contacted the company and asked them if that was an option.  They said that well was scheduled to be plugged and I said, then come on out and plug it.  They did.  They didn't leave anything behind but grass seed.  

 

Sounds like you've researched your rusting eyesore, but if it's a storage tank that a reputable a gas/oil company put there, I can't help but think that there must be some kind of documentation for it.

 

Just my experience...little as it is.

Permalink Reply by Kathleen Elsie Gibbs on May 20, 2011 at 12:21am
In our area most of the old tanks have been replaced or removed (thanks to the companies). OTOH we still have many old mines with acidic water going into the YOUGH River. And mine sites that have not been reclaimed as promised. So make sure they have a fund for final clean up and not leave it to the government as we all know they won't get to it for 50 years.

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