And me and my neighbors are sitting on the Barnett Shale deposit. So far drilling companies have leased mineral rights from homeowners for $25,000 to $30,000 per surface acre and around 25% royalty for the gas being pumped out. In Texas, 95% of all homeowners own their mineral rights and the average size lot is 1/4 acre of in the city. So, thousands upon thousands of residents in North Texas are getting "bonus" checks for $6,000 to $8,000 or so each + royalties for an anticipated 5 to 15 years.
God bless Texas!
Yes and just to your east around Shreveport the Haynesville Shale deposits are just beginning to be explored and it is speculated that field might be significantly bigger than the Barnett Shale deposits.
Now that’s how redistribution of wealth should occur.
Land owners may not get rich but several thousand dollars a year would help the family budget. Cheers.
I’m in NW Louisiana,,,Haynesville Shale area,,,
This field may contain near 170 trillion c.f. of gas,(+-).
They ain’t found the south end of it yet (Sabine Parrish?).
One well just south of me (Elm Grove) produces over
11 million c.f. per day (Bossier Parrish)(with 21/64”choke).
Some folks are getting rich,,,
Some folks are getting ripped !
Landmen have showed up at the door of some older folks with
a contract and cash in hand,,,
Lotta crooks out there...
At least until the RATS impose "windfall profits" taxes!