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Dreams of gas riches fading for NY landowners
AP via news.yahoo.com ^ | Tues Feb 26, 2013 | Mary Esch

Posted on 02/26/2013 5:10:10 PM PST by posterchild

BINGHAMTON, N.Y. (AP) -- When word spread about the potential natural gas riches of the Marcellus Shale, Kimberly More saw it as the hope for saving her horse farm.

She figured that leasing her 170 acres to a drilling company could bring an upfront bonus of nearly half a million dollars, plus a monthly royalty when gas starts to flow, enough to pay for a new house, a new barn and her own riding business.

"I have three young girls. My husband left," More said. "I don't want to be on social services. I want to take care of my family with my own land." But five years later, her natural gas dreams and those of thousands of other New York landowners have faded to frustration as a decision languishes on whether the state should allow fracking, the process of extracting gas by drilling horizontally through the shale and breaking it apart with chemically treated water.

They're waiting for environmental studies about the potential for groundwater contamination. They're waiting for drilling rules and regulations to be drawn up. And most of all, they're waiting for New York Gov. Andrew Cuomo to make up his mind on whether to lift a moratorium on fracking.

The latest delay came when the Cuomo administration announced earlier this month that more time was needed to study potential health impacts. That means the Department of Environmental Conservation won't make Wednesday's deadline to adopt proposed regulations, which will have to be resubmitted and subjected to public hearings and comment.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Government
KEYWORDS: fracking; naturalgas; newyorkfracking; newyorknatgas; newyorkoil; oil
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To: okie01

YOU win the kewpie doll!!!

Seriously, individuals like that lady should back-charge the state for the losses, or sell the property while RESERVING the mineral rights or a significant portion thereof.


21 posted on 02/26/2013 6:14:08 PM PST by Axenolith (Government blows, and that which governs least, blows least...)
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To: okie01
There won't be any fracking in New York State until the politicians and their cronies have bought up most of the land from the bankrupt farmers. Then, and only then, will there be fracking.

Very astute...and true.

FMCDH(BITS)

22 posted on 02/26/2013 6:33:07 PM PST by nothingnew (I fear for my Republic due to marxist influence in our government. Open eyes/see)
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To: KittenClaws

***Does this woman, actually think she’s gonna get nearly a 1/2 million dollars up front,***

Most likely she will be offered a two year contract for a few hundred or thousand dollars to give a company rights to drill, WHEN THEY WISH.

If they drill and find gas she will most likely be given the choice of 1/8 or 3/16 of the royalties as long as there is recoverable gas in the well.

The royalties will be partitioned out with other land owners in that particular drilling area.


23 posted on 02/26/2013 6:35:23 PM PST by Ruy Dias de Bivar (THE SOUND OF MUSIC at the POTEET THEATRE in OKC! See our murals before they are painted over!)
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To: posterchild

The hard Left Marxists currently running most of America don’t like anyone making money except themselves; it’s an old, old story, as witnessed in the histories of Russia, China, Cuba, Vietnam, and many other places.

Guess it’s America’s turn now to fall to communism.


24 posted on 02/26/2013 6:39:25 PM PST by Jack Hammer
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To: posterchild
More said. "I don't want to be on social services. I want to take care of my family with my own land."

That right there is the sort of attitude our wonderful socialist utopia is designed to stunt.

Soon as the government and/or liberal NGOs get control or ownership of her land, THEN the oil spigot can be turned on.

25 posted on 02/26/2013 6:39:25 PM PST by meadsjn
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To: Ruy Dias de Bivar

3% is the going rate, unless you are very skilled. With an unproven play, she’ll bring in a few hundred on a three year lease, with proven production, she could draw several thousand at least every two years.

Most likely, with her limited amount of land, she could draw around 20k yearly with a Producer..

As far as other landowners are concerned, sure, they could pool, and horizontal drilling could play a part, but, well, see above “unless you are very skilled”


26 posted on 02/26/2013 6:45:30 PM PST by KittenClaws (You may have to fight a battle more than once in order to win it." - Margaret Thatcher)
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To: FatherofFive
And most of all, they're waiting for New York Gov. Andrew Cuomo to make up his mind on whether to lift a moratorium on fracking.

The only people in the State of New York Cuomo gives a s**t about are those few high dollar donors who live in Manhattan. A completly worthless but very wealthy ding bat like Yoko Ono means far more to Cuomo than tens of thousands of struggling hard working people like this woman.

If fracking isn't deemed to be PC by the leftist elite, there won't be any fracking in New York. Those elites could care less about that peon woman, her children, her horse farm, or all of the small towns upstate that are dying a slow death due to their left wing BS.

27 posted on 02/26/2013 7:09:50 PM PST by Ditto
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To: posterchild

Lefties want us back in the stone age. No oil, no coal, no natural gas, etc. They don’t want hydro-power or Nuke power. It’s all about penalizing humanity and control.


28 posted on 02/26/2013 7:23:52 PM PST by TheBattman (Isn't the lesser evil... still evil?)
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To: posterchild
Meanwhile ND is creating millionaires at a rate of 2000 a year....

Adam Smith's invisible hand working overtime.

29 posted on 02/27/2013 2:42:03 AM PST by spokeshave (The only people better off today than 4 years ago are the Prisoners at Guantanamo.)
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To: posterchild
a decision languishes on whether the state should allow fracking

Life with Democrats. She should move her horse farm to Cook County. She'd not notice a difference.

30 posted on 02/27/2013 3:07:48 AM PST by 1010RD (First, Do No Harm)
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To: Ditto
The only people in the State of New York Cuomo gives a s**t about are those few high dollar donors who live in Manhattan.

Years ago, during the Carter energy crisis, I had a bumper sticker directed to the enviro whackos in the Northeast:

Let them freeze in the dark

31 posted on 02/27/2013 7:29:42 AM PST by FatherofFive (Islam is evil and must be eradicated)
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To: FatherofFive
Albertans, at that time, had a similar bumper sticker. It said "Let the Eastern Bastards Freeze in the Dark". (They were referring to the voters east of Manitoba, who put Pierre Trudeau in power.) There was also a book:


32 posted on 02/27/2013 2:39:45 PM PST by USFRIENDINVICTORIA
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