Leases extended in some West Virginia counties
Wednesday, January 13, 2016
Southwestern Energy is extending hundreds of Marcellus shale natural gas leases in West Virginia, The Herald-Star reports. Lease extensions were seen in Ohio County and Marshall County records.
In 2014, Southwestern purchased the leases from Chesapeake Energy for $5 billion. Southwestern is encouraged by infrastructure development during the downturn in prices and is confident of the industry’s future once prices turn around.
During the third quarter of 2015, the company produced 37 billion cubic feet of natural gas in its 443,000 acres of West Virginia and southwestern Pennsylvania.
Via: The Herald-Star > Firm will extend regional shale leases
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What are mineral rights?
Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.
Will I get free natural gas if I allow fracking on my property?
Maybe. It depends on your particular lease agreement. Some companies allow property owners a yearly free gas allowance. But, the process of connecting your property to the gas source may be more complicated. Some companies will provide a hookup, others require the landowner to provide one.