Texas fracking company to exit Utica Shale
Thursday, February 12, 2015
Texas-based GoFrac LLC is reportedly closing its Cambridge, Ohio, office and leaving Ohio’s Utica Shale, according to Columbus Business First.
The fracking company’s decision to pull out of eastern Ohio came as a shock to some, especially since GoFrac LLC made significant investments. The company had over 600 employees in Texas and Ohio as of November 2014.
The slump in oil prices hasn’t helped companies drilling in the Utica Shale, just like in other shale plays across the country.
Via: Columbus Business First > GoFrac LLC reportedly exiting Utica shale play, closing Cambridge office
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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.