To Lease or Not To Lease... The decision of whether or not to lease your land is a personal choice. There are both positive and negative aspects to leasing your land that must be considered.
Before considering signing a gas lease, the first question you should ask yourself is “why do I own my property?" Is your land used for farming, are you a sportsman, is it a wildlife refuge, or your private getaway? Allowing a gas company to drill a well on your property can impact all of these aspects and you have to ask yourself if you are willing to give up any or all of the uses listed above.
The positive benefits to leasing your land can include money received as part of the signing bonus (when you first sign the lease) and any royalties that result from a successful well that is drilled, if your property is included in the spacing unit.
Negative aspects can include truck traffic, noise, dust, clearing of land for access roads and well pad, and potential environmental issues in the event of a spill.
3. If you plan to lease your land – DO YOUR HOMEWORK! Being part of a landowner coalition can help with the sharing of information, but every landowner who plans to lease their land needs to make every effort to get educated on the pros and cons of gas leasing so you can make wise decisions.
Some places to get information include:
• Websites like this one – which will be regularly updated with new information on gas leasing and natural gas exploration
• Many landowner coalitions and other organizations host educational workshops and events. You should try to attend as many of these events as possible. The question and answer sessions are invaluable.
• Stay informed with local news articles and websites