Comment

Comment by hunter777 on May 4, 2010 at 11:52am

As promised a few weeks ago, here is an actual copy of the most recent water test"

05-04-2010 06;24;52PM.JPG

Comment by CJK on May 4, 2010 at 11:43am

rfs- A bank can make their own independent decisions.
BYW- Where do you get your municipal water from? I am not looking for a specific location to identify you as you attempted to do when looking at my profile on April 29th, I do not care about your location. What I am trying to make you understand is that your municipality gets it water from a ground source, correct? Therefore it is at as much of a risk as your well water, in fact more, because you have more control over your water source but little to none over the municipality. Does your municipality check for fracing chemicals? or VOC's? etc. Do you receive report from them as to their testing procedures? You would be wise to check into all of these details before you assume that you will be receiving water that will not contain untested components.

Comment by Robin Fehrenbach Scala on May 4, 2010 at 11:29am

Again, the mortgage issue is only new to us northern states. It is common in the south where drilling has been going on forever. A member of another forum I am on discovered the mortgage thing last year and we looked into it.
As it turns out, there is just an additional form and fee involved when there is a gas lease on the property. Any bank who does not know this yet should be told to get further information. It is no longer a problem among those lenders who keep up with new matters. Which is most of them except the few mentioned.

Comment by daniel cohen on May 4, 2010 at 10:41am

Dear CJK,
WOW again! This just gets better and better doesn't it!
Thanks,
Dan

Comment by CJK on May 4, 2010 at 10:32am

Dan:
This is not new Visions has that policy as well, in fact there are many banks that are considering calling their mortgages in because of the gas leases on the property. It is my understanding that gas leases take a priority to mortgages in the courts. The banks do not want any risks. It is conceivable if anything might happen on the property that not only would the banks lose their investment but they could be possibly listed in the law suit as a party of interest.

Comment by daniel cohen on May 4, 2010 at 10:16am

Dear Marie,
WOW!
Dan

Comment by CJK on May 4, 2010 at 10:14am

rfs- Where does your municipal water come from?

Comment by CJK on May 4, 2010 at 9:31am

Sorry for the double posting it seems there is a lag when adding comment.
Sorry to say but I know of someone in NW PA that did have fracing chemicals in their water. It is not impossible. Especially if casing is not done properly. In addition, no one is sure if it will surface somewhere, sometime in the future and we need to be concerned with that. One thing I would like to see is for the companies to put tracers in their fracing operation so we can know for sure if and when it does occur. Not too much to ask.

Comment by Robin Fehrenbach Scala on May 4, 2010 at 9:22am

In our case all we would have to do is hook into the municipal water supply instead of using our well water. Most people here have both already.
It isn't an issue anyway, yet, because we have not signed a lease and neither has our entire block (we would like to stick together). We all resisted the first bunch of offers and wanted better lease protections even when the money was really good.
But all of this has to be looked at from the right perspective. Plenty of wells have methane when they are drilled and have to be redrilled. It is a common problem in the area. There are ways to fix certain problems in water too, depending what the problem is.
But my real point is that NO ONE has frac chemicals in their well. And that is the most common thing I keep hearing....frac toxins will ruin the water. No truth to it though.

Comment by CJK on May 4, 2010 at 9:05am

rfs- "And by now the gas companies have figured out it is better for them to test all wells before drilling to protect themselves from false claims" The gas companies are testing them, but what the landowner gets is a two page test report that is worthless in a court of law. They have a disclaimer on the bottom saying the testing is not reliable because it was not taken in the appropriate manner and they do not supply the landowner with any executive summary. In fact sometimes they do not even report the methane levels. I have seen them. Nothing like letting the fox take care of the hen house!
I hope your neighbors have a good lease like you do because if they do not you might be fracked!

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