Rising prices of oil and gas has made it highly attractive for shale mineral rights owners to commercially exploit their rights. Earlier, a major impediment was the lack of appropriate technology to carry out horizontal drilling in impermeable rocks. This has now been overcome with the introduction of hydraulic fracturing. Barnett shale is a pathbreaker for Woodford and Fayetteville shale. Barnett shale is a formation of sedimentary rocks in the state of Texas. It stretches from Dallas to the city of Fort Worth. Oil mineral rights have always yielded a bonanza for property owners in states like Texas.
Now, with the boom in shale gas and the likelihood that the US has enough shale gas to last a century, landowners are currently enjoying an unprecedented surge of interest in the sale and lease of shale mineral rights. Even basins neglected earlier due to low economic potential are now attracting customers on account of revised estimates. The mineral is estimated to significantly contribute to the economy.
Now, with the boom in shale gas and the likelihood that the US has enough shale gas to last a century, landowners are currently enjoying an unprecedented surge of interest in the sale and lease of shale mineral rights. Even basins neglected earlier due to low economic potential are now attracting customers on account of revised estimates. The mineral is estimated to significantly contribute to the economy.
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