Why Letting An Oil Company Frack In Your Backyard Is Actually An Awesome Idea (cha and ching)

Business Insider ^ | 10/15/2012 | Rob Wile

[SeekAndFind]

Sure, the evidence appears to be growing that fracking may pose an environmental hazard.

But what if someone told you that you could make millions by letting an oil company frack your backyard?

Last year, states paid out more than $54 billion in royalties to landowners whose property was fracked for oil and gas, according to data from the National Association of Royalty Owners.

"There are millionaires being made everyday from North Dakota to Pennsylvania," Jerry Simmons, director of the NARO, told us.

So how do you get a chunk of that change?

We spoke to Jerry, as well as Jackie Root, an NARO rep in Pennsylvania, and put together the nine things you must have in your pocket before you become an overnight millionaire.

You must own the mineral rights on your property

If you do not, you will probably earn nothing. It's not enough to own what's on the surface. If you're not sure, you'll have to go to your county's courthouse and make sure that your deed includes rights to whatever lies beneath your property. Root says that in Pennsylvania, the mineral rights trump surface rights, and a driller can begin digging directly on your property.

And you must own a lot of it

You will get an up-front lease bonus if you own mineral rights. But you'll only get a couple hundred dollars if you don't own enough acres (as in, hundreds) where a company wants to drill. Acres are calculated at the surface (don't worry, only in rare circumstances are there different owners for different layers beneath the surface).

[BfloGuy]

So why is fracking relevant? When you remove oil/gas from an area, there is a reduction of pressure and support below. The land subsides and you get sinkholes. In the case of Bayou Corne, the methane and salt water incursion is going to erode away the salt domes and push that erosion north. The end point of that looks to be right about Quebec.

Interesting. You might have included your explanation along with what was otherwise just a photo of a lake. Now, in your opinion, does fracking for oil or gas reduce pressure and support below any more than traditional drilling methods?

I'm neither a geologist nor an engineer -- just interested.

[Myrddin]

By definition, fracking is "fracturing" using hydraulic pressure to crack rock and drive oil/gas out. What remains behind is fractured rock with the oil/gas removed. It is weakened compared to the state before fracking. Add seismic activity to apply external forces to compress or shear the area and it is more unstable than before.

In the case I was citing, the drilling/fracking is occurring around the salt domes of LA. Fracking and seismic activity are now causing those salt domes to disintegrate. Incursion of water is dissolving them. The consequence is large underground voids that were filled with salt are opening up as "sinkholes".

Sinkholes are problem enough for people on the surface. The larger problem is the salt caverns have been used as storage for oil, butane and radioactive waste on the expectation that they were geologically stable. That assumption is proving false.

This topic has captured my attention lately as an adjunct to my broader interest in increasing earthquake, volcanic and solar activity.

[kjam22]

Fracking is not a new concept. Wells have been fracked for 50 years. It's only a new environmental ploy to force our country into using more batteries from china.

[kjam22]

You have no clue what you’re talking about.

[kjam22]

The person who believes fracking is causing sink holes is just plain stupid. I mean really, there is no other way to represent it.

[taildragger]

I don’t really understand what “fracking” is, but I know it was enough of an issue that it prompted my nephew — born & raised in West Central PA — to declare a geology major in college.

Here is a very well written article on the subject, a great read that gets into the technology and how the industry is getting along w/ State regulators in PA....

www.nationalreview.com/articles/293086/truth-about-fracking-kevin-d-williamson#