Thanks to the development of the Marcellus Shale, many Washington County residents are now receiving gas royalties. The calculation of gas royalties can be quite complicated, and is based upon a number of variables which change constantly. What factors go into the calculation of royalties? How do I know if I negotiated a good deal? [...]
James H. McCune was a guest commentator on the KDKA radio show “The Marcellus Shale and You” on Saturday, January 28, 2012. http://www.themarcellusshale.com/the-marcellus-shale-and-you-12812-full-transcription/
The Marcellus Shale gas boom has been created in part because of advances in drilling technology. Drillers can now reach the Marcellus Shale, which is 5,000 to 9,000 feet below the surface, and then drill horizontally into the shale up to a mile or more from the well location. Multiple wellheads are drilled at a [...]
The natural gas boom has created a need for many different types of pipelines. All of this gas must be transported from the site of the well, and must go through many stages before it can heat your home or dry your clothes. Generally speaking, gas pipelines can be separated into three major catagories: 1) [...]
Many people, including some lawyers and some of those employed in the oil and gas industry, misunderstand some basic terms and definitions relative to the ownership and leasing of oil and gas. One of the most confusing terms used is “minerals”. Many people might assume that the term “minerals” automatically includes oil and gas. This [...]
Once you sign a lease with an operator, the primary term of the lease will keep the entire leased acreage available for use by the lessee operator. When the operator creates a unit for production, your property must be included in that unit for you to receive royalties from the gas produced and sold. However, [...]
Entering into a gas lease for the Marcellus Gas Rights can be a windfall of profit for the property owner. It is not, however, without its tax pitfalls. The gas lease can be a hidden tax bomb if its ownership is not handled properly through gift and estate planning designed to minimize or even eliminate [...]
Now that Oil and Gas is king in Western Pennsylvania once again, everyone needs to become familiar with the terminology that they may be exposed to if they are approached about an Oil and Gas Leasing situation. First of all, the owner of the oil and gas in place is generally referred to as the [...]
When shopping for car insurance, be careful to select “full tort” as opposed to “limited tort.” It is easy to be sold on the latter under the pretense that you are saving money. If you are involved in an automobile accident, the difference can be huge if you are seeking to collect for pain and [...]
Business owners want protection from personal liability while taking advantage of business write-offs from taxable revenue. Here is a quick summary of some options available when shopping for the right form for a business. A “sole proprietor” is a business owner who uses his/her social security number to report income/losses. This is true even if [...]