Landowner "Occupation Title"? - GoMarcellusShale.com2024-03-29T02:06:44Zhttps://gomarcellusshale.com/forum/topics/landowner-occupation-title?commentId=2274639%3AComment%3A747412&feed=yes&xn_auth=noThank you for replying Lori.…tag:gomarcellusshale.com,2016-08-28:2274639:Comment:7474962016-08-28T12:36:28.039ZDavid Allen Lillyhttps://gomarcellusshale.com/profile/DavidAllenLilly
<p>Thank you for replying Lori. My point was more that you believe your producer is playing fair, because other of us are constantly assuring all of us that we will be stolen from in every conceivable manner by every shale gas producing company.</p>
<p>Your points about the distribution are well founded as well as your contentions about the insanity that is our government and the cretin currently running us into the ground.</p>
<p>The only solace to take is that this natural gas dynamic has a…</p>
<p>Thank you for replying Lori. My point was more that you believe your producer is playing fair, because other of us are constantly assuring all of us that we will be stolen from in every conceivable manner by every shale gas producing company.</p>
<p>Your points about the distribution are well founded as well as your contentions about the insanity that is our government and the cretin currently running us into the ground.</p>
<p>The only solace to take is that this natural gas dynamic has a long view that is going to end up with natural gas displacing coal as the method of producing electricity.</p>
<p>We around Guernsey county Ohio are told of many new gas fired power plants in the planning/permitting stage, I feel that once the market is developed for using the copious quantities of natural gas that are currently available we will see better pricing for us and better royalties.</p>
<p>As an aside, if we would have been drilled and producing during the very high oil pricing term we would have been millionaires in short order.</p>
<p>A lot of us have not realized what we had once thought to realize but life goes on. Besides, it is really not polite to root for higher prices even though they benefit us because to the greater part of the population these higher prices are a tremendous burden.</p>
<p>I have enjoyed your thread thank you.</p> The compressor stations are w…tag:gomarcellusshale.com,2016-08-27:2274639:Comment:7474822016-08-27T21:31:37.489ZLori Huberhttps://gomarcellusshale.com/profile/LoriHuber
<p>The compressor stations are where multiple well pads pump their gas to for distribution to other stations and lines. The shale gas comes out of the ground into the gathering line at 3000 psi. It is under extremely high pressure and why a lessee cannot run a line from the well to their home for gas use, as in shallow wells, which pump at a much lower pressure. The local buyers link in to the compressor stations with their pipelines, etc. Not sure of all of the access, etc, but do know that…</p>
<p>The compressor stations are where multiple well pads pump their gas to for distribution to other stations and lines. The shale gas comes out of the ground into the gathering line at 3000 psi. It is under extremely high pressure and why a lessee cannot run a line from the well to their home for gas use, as in shallow wells, which pump at a much lower pressure. The local buyers link in to the compressor stations with their pipelines, etc. Not sure of all of the access, etc, but do know that shale gas is pumped at a very high pressure and it doesn't necessarily mean it's going a long distance.</p> Sounds like reasonably good t…tag:gomarcellusshale.com,2016-08-27:2274639:Comment:7475792016-08-27T21:09:05.618ZLori Huberhttps://gomarcellusshale.com/profile/LoriHuber
<p>Sounds like reasonably good tags. Thank you!</p>
<p>Sounds like reasonably good tags. Thank you!</p> i was nearby ellenboro,wva th…tag:gomarcellusshale.com,2016-08-27:2274639:Comment:7476302016-08-27T18:45:45.609Zjc robbhttps://gomarcellusshale.com/profile/jonchristopherrobb
<p>i was nearby ellenboro,wva the other day delivering some freight and a person where i delivered it told me that there is a compressor facilitie close-by that pumps over a billion feet a day at about 1200 psi as i recall. i dont think that gas is priced locally when its sold.</p>
<p>i was nearby ellenboro,wva the other day delivering some freight and a person where i delivered it told me that there is a compressor facilitie close-by that pumps over a billion feet a day at about 1200 psi as i recall. i dont think that gas is priced locally when its sold.</p> Oil & gas Lessor, Lessor,…tag:gomarcellusshale.com,2016-08-27:2274639:Comment:7477182016-08-27T18:20:14.704ZGas Boyhttps://gomarcellusshale.com/profile/BobSmith653
<p>Oil & gas Lessor, Lessor, Royalty Owner - mean all the same thing</p>
<p></p>
<p>Oil & gas Lessor, Lessor, Royalty Owner - mean all the same thing</p>
<p></p> Are you Ron's twin sister?tag:gomarcellusshale.com,2016-08-27:2274639:Comment:7477132016-08-27T16:29:29.336Z2kh5ftrhxwsvzhttps://gomarcellusshale.com/xn/detail/u_2kh5ftrhxwsvz
<p>Are you Ron's twin sister?</p>
<p>Are you Ron's twin sister?</p> Ron, can't disagree with your…tag:gomarcellusshale.com,2016-08-27:2274639:Comment:7474122016-08-27T16:15:00.092ZLori Huberhttps://gomarcellusshale.com/profile/LoriHuber
<p>Ron, can't disagree with your frustration and share it, believe me. We SHOULD be able to deduct more than depreciation because we are selling our gas at reduced rates below market value set by the EIA based on Henry Hub pricing due to the inability to get to market due to inadequate infrastructure. You're preaching to the choir on the govt inefficiency and outright dishonesty and greed. It has ALLOWED these greedy corporations to rape the consumers through special interests and…</p>
<p>Ron, can't disagree with your frustration and share it, believe me. We SHOULD be able to deduct more than depreciation because we are selling our gas at reduced rates below market value set by the EIA based on Henry Hub pricing due to the inability to get to market due to inadequate infrastructure. You're preaching to the choir on the govt inefficiency and outright dishonesty and greed. It has ALLOWED these greedy corporations to rape the consumers through special interests and cronyism.</p>
<p></p> David, our gas is dry so we d…tag:gomarcellusshale.com,2016-08-27:2274639:Comment:7475672016-08-27T16:09:34.804ZLori Huberhttps://gomarcellusshale.com/profile/LoriHuber
<p>David, our gas is dry so we don't have NGL's, at least at this point in time, however our lease DOES specify that we would be paid for any NGL from extraction. Not so sure I feel that the royalty is "fair" when in comparison to the rest of the country, but I do not blame the producer or our contract terms. I don't think that it's fair that we, here in the NE, are getting so much less for our gas because there isn't a transport to get it to market to the rest of the country, AND that those…</p>
<p>David, our gas is dry so we don't have NGL's, at least at this point in time, however our lease DOES specify that we would be paid for any NGL from extraction. Not so sure I feel that the royalty is "fair" when in comparison to the rest of the country, but I do not blame the producer or our contract terms. I don't think that it's fair that we, here in the NE, are getting so much less for our gas because there isn't a transport to get it to market to the rest of the country, AND that those pipelines have been delayed due to a lot of red tape and govt hold ups. Our producer does it's best to get the best price it can each month from a limited market but because we are so over supplied (being unable to get it to other markets as we are) we are forced to take what we can get. I can only complain about the lack of supply lines to the areas that need the gas, though, as I mentioned.</p>
<p></p> Thank you for the heads up. I…tag:gomarcellusshale.com,2016-08-27:2274639:Comment:7475652016-08-27T16:03:05.006ZLori Huberhttps://gomarcellusshale.com/profile/LoriHuber
<p>Thank you for the heads up. I am less concerned about a designation for income taxes as the 1099's would clearly note where the income is derived and that we are royalty owners. The tax is certainly high enough without adding more! Rents & Royalties do have their own tax code section so properly completed tax returns would be self-explanatory. Using the royalties as our main source of income from the farm rather than regular employment or farm income was where my curiosity and lack of…</p>
<p>Thank you for the heads up. I am less concerned about a designation for income taxes as the 1099's would clearly note where the income is derived and that we are royalty owners. The tax is certainly high enough without adding more! Rents & Royalties do have their own tax code section so properly completed tax returns would be self-explanatory. Using the royalties as our main source of income from the farm rather than regular employment or farm income was where my curiosity and lack of info came into play, if using the royalty income as an income source if in search of credit or income verification. I'm actually surprised that the Fed hasn't already created one for the tax code or Labor & Industry Occupational code designation.</p> One thing I would add to this…tag:gomarcellusshale.com,2016-08-27:2274639:Comment:7474092016-08-27T15:32:18.234ZWilliam Dotsonhttps://gomarcellusshale.com/profile/WilliamDotson
<p>One thing I would add to this is that you should be careful of how you list your occupation for Federal and State income tax. A title that suggests you are in the business of leasing/developing mineral rights may very well flag the IRS that you should be paying Self-Employment Tax on the income. I don't know if this issue has ever come up, but I would not want to be the test case. SE tax is 15.3%. So unless this is your objective, I'd be careful.</p>
<p>One thing I would add to this is that you should be careful of how you list your occupation for Federal and State income tax. A title that suggests you are in the business of leasing/developing mineral rights may very well flag the IRS that you should be paying Self-Employment Tax on the income. I don't know if this issue has ever come up, but I would not want to be the test case. SE tax is 15.3%. So unless this is your objective, I'd be careful.</p>