Gas leasing.

[Guest Guest]

Ive been offered $150K for the lease of my land but what i want to know and no one has been able to answer this for me is what are they going to do to the land when they decide to move in? I don't want my trees harmed or my trails ruined. To me it's easy money but i know that i am going to be used somehow...

 

 

Do gas homework, residents urged

Companies looking to secure land in southern Broome County

By Nancy Dooling

Press & Sun-Bulletin

Broome County property owners, including municipalities, could be sitting on one of the biggest natural gas deposits in New York, and local landowners need to do their homework before they sign over their land rights to gas companies, officials said.

Gas companies are already soliciting for leases in the southern part of Broome County, said Lindsay Wickham, a field adviser for the New York State Farm Bureau. Broome could be looking at "a world-class gas strike," Wickham said.

Prices for leasing range from $50 to $2,500 an acre as bonus money, Wickham said. Landowners also need to be aware that the current going rate for royalties is 20 to 25 percent.

At least one landowner in Chemung County was offered $1 million in cash for his acreage, Wickham told municipal leaders and Broome County officials.

Big money is involved as the demand for natural gas increases, and property owners may find their land is worth far more than they ever imagined.

"This will change the character of our county," said Steve Herz, who represents the eastern portion of Broome County on the legislature. "For better or for worse, change is coming."

Landowners, including municipalities, are not obligated to sign leases and Wickham urged residents and municipal officials to have any lease examined by an attorney before signing the document. Landowners can also negotiate the terms of a lease.

The search for natural gas has been increasing in the area in recent years. A layer of rock called Marcellus Shale, found prominently in southern New York, Pennsylvania, Ohio and West Virginia, is known to contain gas. Recent technology has made it possible to cheaply extract that gas.

Currently, the biggest natural gas well in New York is in Van Etten, just over the Tioga County line in Chemung County, Wickham said. That well puts out 40 million cubic feet of natural gas a day, Wickham said.[/size]

[Guest Guest]

What town is your land in? We have landowner groups working together to negotiate with the gas companies/landmen to get the best deal for us. This not only includes the best bonuses and royalties, but more importantly the rights to our land and what can be done on it. Our group just set up a website at www.nygaslease.org to help inform local landowners. It was just launched, so there isn't a lot of content yet, but there are links to groups from other areas that have been in this longer than us. I strongly recommend attending the meetings with other landowners, you'll gain a much better understanding by doing so.

[Guest 13903]

What town is your land in? We have landowner groups working together to negotiate with the gas companies/landmen to get the best deal for us. This not only includes the best bonuses and royalties, but more importantly the rights to our land and what can be done on it. Our group just set up a website at www.nygaslease.org to help inform local landowners. It was just launched, so there isn't a lot of content yet, but there are links to groups from other areas that have been in this longer than us. I strongly recommend attending the meetings with other landowners, you'll gain a much better understanding by doing so.

 

 

Meeting on April 21 at 7pm at the Brookside School for interested Landowners to learn more about gas leasing in Broome County. To join the landowner's group, pick up forms at Reliable Market, Conklin, Town of Binghamton Clerk's office on Park Ave, Manley's Market at Pennsylvania & Park Ave in Hawleyton.

 

 

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[WebQueen]

Natural gas lease meeting set for April 21

 

 

Property owners in the towns of Binghamton and Conklin can learn more about natural gas leasing at a meeting scheduled for 7 p.m. April 21 at Brookside Elementary School on Saddlemire Road in the Town of Binghamton.

 

A representative from the American Association of Professional Landmen will be available to answer questions about natural gas leasing. The meeting is sponsored by a coalition of landowners representing the towns of Conklin, Binghamton, Kirkwood, Windsor and Vestal.

 

For more information on the meeting or the coalition, go online to www.nygaslease.org.

 

 

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