What can we learn about shale gas development from land values? Opportunities, challenges, and evidence from Texas and Pennsylvania

Jeremy Weber and Claudia Hitaj

MPRA Paper from University Library of Munich, Germany

Abstract: We study farm real estate values in the Barnett Shale (Texas) and the northeastern part of the Marcellus Shale (Pennsylvania and New York). Shale gas development caused appreciation in both areas but the effect was much larger in the Marcellus, suggesting broader ownership of oil and gas rights by surface owners. In both regions, most appreciation occurred when land was leased for drilling, not when drilling and production boomed. We find evidence that effects vary by farm type, which may reflect a correlation between farm type and the presence of oil and gas rights.

Keywords: Barnett Shale; land values; Marcellus Shale; natural gas; oil and gas rights (search for similar items in EconPapers)
JEL-codes: Q15 Q32 Q51 (search for similar items in EconPapers)
Date: 2015-01-01
New Economics Papers: this item is included in nep-ene
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (16)

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Related works:
Journal Article: What Can We Learn about Shale Gas Development from Land Values? Opportunities, Challenges, and Evidence from Texas and Pennsylvania (2015)
Journal Article: What Can We Learn about Shale Gas Development from Land Values? Opportunities, Challenges, and Evidence from Texas and Pennsylvania (2015)
Working Paper: What can we learn about shale gas development from land values? Opportunities, challenges, and evidence from Texas and Pennsylvania (2014)
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