Boone Pickens isn’t shying away from shale gas, so be prudent in evaluating your land when you begin to negotiate oil and gas leases. Prices aren’t as high for gas properties as they were in 2007-2008, but don’t feel to sign without fully evaluating your situation. Make sure you utilize the free resources like MineralRightsForum.com and hire a professional if the transaction is large enough to warrant the expense.
“Energy investor T. Boone Pickens said he has been buying up U.S. shale acreage, and he could consider signing joint ventures to develop the properties, or some property sales.”" ‘I’m in two big shale plays and one of them is the Marcellus,’ Pickens said in an interview, referring to the massive natural gas field that stretches from West Virginia and Ohio across Pennsylvania and into New York.”
“The shale fields could hold enough natural gas to supply the United States for more than a century, experts have estimated, although the hydraulic fracturing techniques used to extract the gas have raised environmental concerns in some areas.”
“Companies are also shifting drilling efforts into shale fields that hold oil or natural gas liquids, since those fuels are fetching far higher prices than natural gas.”
“That boom has seen property prices in some gas basins such as the Marcellus surge above $10,000 an acre, while prices in the liquids-rich areas of Texas’s Eagle Ford shale have topped $20,000 an acre.”
Read the full news release at reuters.com