A new article from the Canton Repository looks at how local landowners are feeling the impact of shale signing bonuses and royalty payments.
While deals for mineral rights have been offered for years by oil companies, the recent shale boom has really ignited the activity between energy companies and landowners. The article states that over 6,000 leases have been recorded in Stark County since the start of 2010.
In 2010, signing bonuses started at $1,000 per acre. These days the offers start at $2,000 to $2,500 per acre, and landowners who are patient can often extract much more from companies. Landowner groups have helped to create leverage leading to higher bonuses, and some recent deals have been for nearly $6,000 an acre.
Carroll County Chamber of Commerce executive director Amy Rutledge stated for the article that the signing bonuses have created "a few new millionaires" in the area. But even those who don't have large tracts of land can experience substantial financial benefits from signing a lease.
Check out the entire article for more details.
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