Not Logged In Log In   Sign Up   Points Leaders
Follow Us    4:38 PM

GasBuddy News Article

44
votes
Billions in gas drilling royalties transform lives

AP -- PITTSBURGH (AP) -- Private landowners are reaping billions of dollars in royalties each year from the boom in natural gas drilling, transforming lives and livelihoods even as the windfall provides only a modest boost to the broader economy.
In Pennsylvania alone, royalty payments could top $1.2 billion for 2012, according to an analysis by The Associated Press that looked at state tax information, production records and estimates from the National Association of Royalty Owners.
For some landowners, the unexpected royalties have made a big difference.
"We used to have to put stuff on credit cards. It was basically living from paycheck to paycheck," said Shawn Georgetti, who runs a family dairy farm in Avella, about 30 miles southwest of Pittsburgh.
Natural gas production has boomed


Read the Full Article

Submitted Jan 27, 2013 By: mastermariner
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Billions in gas drilling royalties transform lives Back to Topics
REPLIES (newest first) Post a Reply
WanderDan
All-Star Author Dayton

Posts:670
Points:324,235
Joined:Nov 2012
Message Posted: Jan 29, 2013 11:28:41 PM

ok
drpepperTX
Champion Author Texas

Posts:11,511
Points:1,077,795
Joined:Apr 2011
Message Posted: Jan 29, 2013 7:32:46 PM

NHLiverFree, "Not to mention all the liabily property owners take on as well as the threat to their home insurance and mortgages.

What a great fluff piece of propaganda courtesy of the API via AP."
=====================

LOL, envy is one of the seven deadly sins!

Just what threats to home insurance and mortgages do you speak? And liability? That's on the oil and gas producers.
NedW
Champion Author Indianapolis

Posts:7,142
Points:1,441,940
Joined:Mar 2008
Message Posted: Jan 28, 2013 11:28:30 PM

Thank you for submitting this article, mastermariner.
endymion
Champion Author New York

Posts:2,207
Points:440,115
Joined:Nov 2012
Message Posted: Jan 28, 2013 4:50:22 PM

Great for the landowners, but how much will the public pay for cleaning up the mess?
scu227
Champion Author New Haven

Posts:5,927
Points:1,098,880
Joined:Feb 2011
Message Posted: Jan 28, 2013 8:31:52 AM

ok
SkooterG
Champion Author Phoenix

Posts:2,307
Points:610,000
Joined:May 2012
Message Posted: Jan 28, 2013 2:55:27 AM

Lucky few.
NHLiveFree
Champion Author New Hampshire

Posts:12,850
Points:1,934,125
Joined:Jun 2008
Message Posted: Jan 27, 2013 11:42:50 PM


Not to mention all the liabily property owners take on as well as the threat to their home insurance and mortgages.

What a great fluff piece of propaganda courtesy of the API via AP.
Lugi1967
Champion Author Ohio

Posts:6,353
Points:1,324,245
Joined:Jun 2010
Message Posted: Jan 27, 2013 8:49:31 PM

good for economy
Z51Corvette
Champion Author Austin

Posts:9,947
Points:1,970,445
Joined:Jan 2008
Message Posted: Jan 27, 2013 8:48:14 PM

Sounds great, hope you can keep "BO's" hands out of your cookie jar!
garman87
Champion Author Austin

Posts:4,109
Points:2,685,690
Joined:Aug 2005
Message Posted: Jan 27, 2013 8:16:59 PM

Good money even for Pennsylvania.
bobmcl2006
Champion Author Pittsburgh

Posts:15,854
Points:2,688,775
Joined:Oct 2006
Message Posted: Jan 27, 2013 8:13:33 PM

My home sits on old farm land. I do not have the mineral rights. They would have to buy dozens of homes to get their five acres for a well. Go a 1/2 mile and find lots of empty farmland.
fcdriver
Champion Author Tennessee

Posts:8,782
Points:1,781,740
Joined:Sep 2008
Message Posted: Jan 27, 2013 8:10:43 PM

i wished they would come drill in my back yard
brprven
Champion Author Dallas

Posts:2,271
Points:611,985
Joined:Jun 2012
Message Posted: Jan 27, 2013 8:09:37 PM

wish i had some
rf6480
Champion Author Miami

Posts:2,102
Points:801,540
Joined:Mar 2011
Message Posted: Jan 27, 2013 8:09:07 PM

as long as the corporations are paying them and not taxpayers
nomad228
Champion Author Columbus

Posts:3,208
Points:592,275
Joined:Feb 2011
Message Posted: Jan 27, 2013 8:08:48 PM

if they ever receive them.......all. why dont they ask each and everyone who has a contract with the gas companies what they really get for their trouble,and? for their mineral rights.
carinthuist
Champion Author San Francisco

Posts:3,797
Points:620,650
Joined:Mar 2012
Message Posted: Jan 27, 2013 8:08:22 PM

great
bobmcl2006
Champion Author Pittsburgh

Posts:15,854
Points:2,688,775
Joined:Oct 2006
Message Posted: Jan 27, 2013 8:06:15 PM

To answer an earlier post. Most farms in W PA have been stayed in the family. The mineral rights were never at risk.
tdc007
Champion Author Lexington

Posts:2,542
Points:698,475
Joined:Feb 2012
Message Posted: Jan 27, 2013 8:06:14 PM

Good.
Barfood
Champion Author St. Louis

Posts:3,650
Points:1,281,840
Joined:Jun 2009
Message Posted: Jan 27, 2013 8:04:26 PM

Guess those local governments that tax real property are winning 'the game' too.
Carol7777
Champion Author Houston

Posts:73,771
Points:475,685
Joined:Dec 2012
Message Posted: Jan 27, 2013 8:02:57 PM

I know it's a boon to the landowners who receive royalties & maybe to surrounding economy. However, I'm still unsure of its long term impact on the environment.
paulweb
Champion Author Ohio

Posts:2,205
Points:639,695
Joined:May 2011
Message Posted: Jan 27, 2013 8:01:32 PM

Glad to hear it.
MrGasKGB
Veteran Author St. Louis

Posts:392
Points:395,815
Joined:Dec 2012
Message Posted: Jan 27, 2013 8:00:10 PM

Extra revenue from whatever means helps alot!
bobmcl2006
Champion Author Pittsburgh

Posts:15,854
Points:2,688,775
Joined:Oct 2006
Message Posted: Jan 27, 2013 7:57:48 PM

Really tough to have a working farm. Hope they can keep them working for us to survive!A lot of farmers in W PA have given up b4 this boost. :-(
tobasco
Champion Author Los Angeles

Posts:7,518
Points:2,345,750
Joined:Mar 2004
Message Posted: Jan 27, 2013 7:52:40 PM

Rental income is always nice.
ElkManMI
Veteran Author Grand Rapids

Posts:477
Points:806,775
Joined:Aug 2009
Message Posted: Jan 27, 2013 7:48:17 PM

Good for landowners.
srchr
Champion Author San Jose

Posts:8,860
Points:1,936,605
Joined:Apr 2008
Message Posted: Jan 27, 2013 7:48:01 PM

i'm surprised the property owner has the mineral rights anywhere these days
Godozo
Champion Author Gary

Posts:1,114
Points:825,045
Joined:Dec 2010
Message Posted: Jan 27, 2013 7:47:21 PM

"For to every one that has shall be given, and he shall have abundance: but from him that has not shall be taken away even that which he has."

And thus has modern America found a way to justify Christians in its midst.
mplato
Champion Author Columbia

Posts:9,855
Points:2,138,670
Joined:Jun 2004
Message Posted: Jan 27, 2013 7:43:04 PM

yes it does
Suzzoom
Champion Author Nevada

Posts:3,910
Points:827,850
Joined:Jan 2011
Message Posted: Jan 27, 2013 7:41:23 PM

At least it's going to the landowners. In Sicily, according to a news story this morning on NPR, the Mafia is sucking up a goodly portion of the natural gas profits.
JagXKR
Champion Author British Columbia

Posts:4,725
Points:1,414,885
Joined:Dec 2009
Message Posted: Jan 27, 2013 7:39:48 PM

Oh to have land that is being drilled on, that would make my day. I wish I had land.
AC-302
Champion Author Los Angeles

Posts:28,988
Points:3,201,985
Joined:Aug 2004
Message Posted: Jan 27, 2013 7:37:30 PM

Oil and nat gas on folks' lands have really helped a whole lot of folks.
madison8359
Champion Author Cleveland

Posts:13,708
Points:1,921,270
Joined:Apr 2008
Message Posted: Jan 27, 2013 7:37:13 PM

Lots of money.
swrestler
Champion Author Grand Rapids

Posts:7,775
Points:1,898,415
Joined:Oct 2008
Message Posted: Jan 27, 2013 7:37:10 PM

Good For Them, At Least Someone Other Than Big Oil Is Getting Rich...
snell snail
Champion Author Atlanta

Posts:5,386
Points:2,871,465
Joined:Feb 2004
Message Posted: Jan 27, 2013 7:36:27 PM

....good luck!
Noewal
Champion Author Virginia

Posts:1,829
Points:453,280
Joined:Jul 2008
Message Posted: Jan 27, 2013 7:34:57 PM

A true blessing. Be wise with your newfound wealth!!!
gir1938
Champion Author Indianapolis

Posts:1,621
Points:302,215
Joined:Oct 2012
Message Posted: Jan 27, 2013 7:34:44 PM

good for some
DCbeachbum
Champion Author South Carolina

Posts:3,190
Points:1,172,925
Joined:May 2010
Message Posted: Jan 27, 2013 7:34:27 PM

Paying royalties to property owners is a good thing. This is money that will be put into the local economy. It can be invested, saved or some will go to Charities. I don't see anything bad here.
nozzle46
Champion Author Little Rock

Posts:7,695
Points:1,700,880
Joined:Jul 2006
Message Posted: Jan 27, 2013 7:33:01 PM

Better sock away for retirement.
MRHONEST
Champion Author Illinois

Posts:2,654
Points:1,962,200
Joined:May 2007
Message Posted: Jan 27, 2013 7:32:35 PM

SWEET
Vette1967
Champion Author Albany

Posts:7,604
Points:1,602,620
Joined:Jun 2009
Message Posted: Jan 27, 2013 7:31:33 PM

The new upper middle class. Hope they put that money to good use.
jnseyeongas
Champion Author Milwaukee

Posts:1,987
Points:854,810
Joined:Feb 2011
Message Posted: Jan 27, 2013 7:28:35 PM

I guess I need someone to ckeck for oil in my back yard!
humblepie
Champion Author Toledo

Posts:48,538
Points:2,700,065
Joined:Mar 2006
Message Posted: Jan 27, 2013 7:28:16 PM

and they loaded up their truck and headed for beverly, hills that is
SavinOnFuel
Champion Author Gary

Posts:1,989
Points:1,484,720
Joined:Nov 2007
Message Posted: Jan 27, 2013 7:26:26 PM

Wish it was me
MopedTime
Champion Author Michigan

Posts:1,458
Points:666,085
Joined:Mar 2012
Message Posted: Jan 27, 2013 7:18:12 PM

Can they check my backyard for oil?
REKEY
Champion Author South Carolina

Posts:10,194
Points:2,022,125
Joined:May 2008
Message Posted: Jan 27, 2013 7:17:18 PM

They are now the 1%!
BeatOPEC
Champion Author Indianapolis

Posts:1,414
Points:313,135
Joined:Apr 2011
Message Posted: Jan 27, 2013 7:15:37 PM

Good to hear someone getting rich instead of the oil companies.
seahawks
Champion Author Washington

Posts:4,324
Points:2,197,165
Joined:Sep 2005
Message Posted: Jan 27, 2013 7:14:46 PM

true statement!!!
dastard57
Champion Author Orange County

Posts:4,652
Points:830,885
Joined:Feb 2011
Message Posted: Jan 27, 2013 7:14:17 PM

GREAT! WTG PENNSYLVANIA!
wshokie12
Champion Author Winston-Salem

Posts:2,530
Points:499,915
Joined:Aug 2012
Message Posted: Jan 27, 2013 7:12:25 PM

Okay.
cateyes8264
Champion Author Tennessee

Posts:3,332
Points:772,940
Joined:Jul 2011
Message Posted: Jan 27, 2013 7:11:52 PM

Hope they save and invest it wisely for the future.
Post a reply Back to Topics