Friday, October 16, 2009

deep hmmm

I have seen more and more news about companies vying for drilling rights closer and closer to the city proper...  it even makes the news when nearby Baldwin agrees to drilling...Even that amazes me given how urban Baldwin is really.   What I am not sure people realize is that it would appear these companies want to drill in the middle of the city!!

According to the article there on Baldwin, homeowners will get payments based on their acreage.   No secret I live in the East End and you need to break into significant digits to measure my owned acreage.  Thus I don't fully understand the legalities or the economics that would prompt me to be getting similar solicitations or why I would want to participate.  Below is a postcard I myself received a couple months ago ... and it was not the first one.  I meant to save, but lost, a similar solicitation from a different company that came a few months before that.  The idea of a derrick in say the heart of Lawrenceville is quite an image to think of. Is that what they are really planning?! I think I need Vannevar's photoshop help to imagine what that would look like. But I would be curious what other city residents have received anything like this in recent months and what they were offered if they followed up:


Blogger n'at said...

I'm sure I've stated this somewhere, perhaps here: the only money to be had from Marcellus Shale drilling are from lawyers. I'd be shocked if the average homeowner's deed extends to the center of the earth. Most likely folks will be duped into providing subsurface easements and land leases for staging and equipment at very little or no cost in exchange for a percentage of the gas reserves extracted from within the boundaries as described within the deeds.

The mineral rights in western pa were snatched up during the oil and coal boom generations ago. If your family didn't turn a profit at that time, then you won't this time around either...

Friday, October 16, 2009 1:55:00 PM  
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