First let me say I’m not familiar with your area I’m in TX but have been in the oil business for about 40 years.
My first question is do you own the minerals on your land?
If you don’t own the minerals then at best you can only get surface damages if and only if they drill on your place or run a pipeline. there is a chance of them drilling on your place but with that small of acreage it would be a crap shoot. In TX it’s split up in 40 acre units with all those inside the unit splitting royalties depending on acerage owned. As far as a Fracing contract theres no such thing it’s just a part of well completion, the final stage in opening up a zone, you would recieve nothing for that. As far as them producing out from under you again that won’t happen they have to obtain all the mineral rights in that unit before drilling. Again if you don’t own the minerals the chances of you seeing anything is unlikely.
In this area, even people with one acre have been offered leases - IF they live between others who have signed. This happened to my cousin. At this point it is still a bit unclear how the companies will proceed, but prior to this hitting the news a number of years ago, they were quietly going around getting individual leases (5 year) from property owners of all sizes. The early signers on were taking $500. per acre for the five year term (a few as low as $250. per acre), later on property owners were holding out for up to $5000. per acre, and royalties.
I double checked with my attorney three or four years back, and there are no liens on my property for minerals, and he assures me that I have the mineral rights clear.
There have been a few homeowner groups formed up here to deal with fears about being screwed over by the companies. So, I look to those to learn the pitfalls, one of which seems to be greedy homeowner group lawyers. :) I read in their online forums once in awhile to find out what is currently going on. They also air little info-shows on the local network, and I watch those rather than attend the meetings in person.
The companies just about stopped all activity in our area a few years ago, but with the “leaked” report about NY being safe to frack, I expect it should pick up again. While they would obviously prefer larger parcels, many of the big parcels out in the countryside have been split into 10 acres or smaller. Since mine is only seven acres, but is backed by a large piece of state land - which has a huge pond on it - there is a likelihood that I will be approached. Probably the folks on either side of me as well since that is all vacant land too.
I’ve never felt strongly about wanting to lease it, and always figured that I’d cross that bridge if it ever became an issue, but frankly - IF the state land is opened, and the neighbors sign on..............
I don’t expect to become a Beverly Hillbilly, only the large acreage owners have a shot at that, but my little acreage is almost useless most of the year, I have zero intention of building on it, and so I would consider a lease if offered decent terms.