Ohio River drilling next in the shale spotlight
Wednesday, October 1, 2014
According to West Virginia MetroNews, drilling could take place under the Ohio River.
The West Virginia Department of Commerce opened bids for natural gas drilling Sept. 26. The drilling will occur about one mile under the river, despite concerns that it will affect drinking water.
State parks that are struggling financially will benefit from the drilling, and the state will receive bonuses per acre as well as royalties.
From West Virginia MetroNews:
“The royalties for the state in each bid are between 18 and 20 percent and the upfront per acre bonuses range from $211 per acre to $8,425 per acre. The leases range from 3-5 years.”
Via: West Virginia MetroNews > State parks could profit from under river drilling
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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.