The Marcellus shale "boom" appears to have reached the Valley.
Marcellus shale is the name of a large underground formation that begins in New York and stretches across four states, including ten counties in Eastern Ohio. That formation is believed to contain enough natural gas to supply the east coast for the next 50 years.
The Columbiana County Recorders office has been slammed in recent weeks with people researching and getting mineral rights leases.
"Basically what they're doing with our office is that they are actually acquiring the research to find out who the current landowners are," said county Recorder Craig Brown. "Or even perhaps who the current leaseholders are of areas that they feel could be rich in gas."
Monday was a slow day, he said, but there were still about six people looking up property information for landowners who have more than 20 acres of land. Brown said 20 acres is the requirement for drilling to take place.
He said after looking up the records, companies will approach a property owner and offer them anywhere between $500 and $1,500 dollars per acre to acquire drilling rights. If they accept an offer, property owners would sign a lease with a company and get royalties of an active well in return.
Between May 1 and July 31, 208 mineral rights leases have gone through the recorder's office. Compare that to just 18 in the previous three months.
"What's interesting is that they are just getting out there, and they are just starting to sign more and more and more," Brown said. "This is still pretty early. So we're going to see a lot more leases come in."
Brown said he recommends having an attorney look over any offer before signing it.
