Posted by Joe(TX) on February 08, 2008 at 08:02:44 from (192.249.47.9):
In Reply to: O.T. - Drilling for gas posted by CB in central NY on February 08, 2008 at 07:28:37:
A lot of variables here. Does the person represent a drilling company or is he just buying leases to resell? Is this a mineral lease(do you have the mineral rights), or is a surface lease for acces only? To get paid for the gas you have to have the mineral rights. It will take a full acre for the well site plus additional for the pits required while drilling. You pretty much lose control of the property. Have specific terms for cleanup, location, maintaning the site, etc. Time limits on cleanup are important. There should be no problem with ground water if done properly. I would talk to an lawyer as well as others in the area you have experiance. Differant area get differant amounts for the lease, property damage(there will be some), royalties, easments, etc.
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