Looking for land in Northeastern Ohio? Maybe you should be. Even if you’re not planning on taking up the farm and country life, there’s compelling evidence to suggest that increased gas and oil exploration are on the way for Northeastern Ohio.
As recently as 2010, 431 new wells were drilled in Ohio, and the U.S.’s continued push for domestic sources of fossil fuels (and reduction in foreign energy dependency) suggest that continued exploration will be the norm.
Land-owner participant investing is one of the more popular ways to claim a piece of the potential boom in Northeastern Ohio gas and oil production, especially in Ashtabula County. While there are guidelines and requirements that must be satisfied to reap the maximum benefits, land-owner participants must own enough land for the exploration and be willing to sell the rights to the minerals beneath the surface. Doing so can can net you royalty cash and signing bonuses.
While there are other possible avenues to investing, including investor partnerships with gas and oil companies, land ownership represents one of the most risk-reduced scenarios when it comes to reaping benefits.
While land is becoming more scarce , fortunately, there are still land investment opportunities in Northeastern Ohio. Though I can’t tell you for sure if your property holds riches underground, I do believe land investment is a solid move in today’s economy.
Blog Post By: Jackie Stewart