Maybe this should be labelled as "selling access to water"?
When the drilling rig comes knocking, looking for water, what is it worth?
The standard around here for a conventional well is $1500 but if they are hungry or in a hurry you can bump that up.
The standard for a coalbed well seems to be in that $650 range, as they use a lot less water and are only in for a couple of days...they are hard to deal with!
Now when you get the money do you pay tax on it? Do you declare it? That is a pretty gray area that you need to talk to your accountant about.
Unfortunately a lot of farmers don't know what the going rate is in their area and they get screwed. They would never want to share their money secrets with anyone else! The drilling consultant just loves these kind of guys!
When the drilling rig comes knocking, looking for water, what is it worth?
The standard around here for a conventional well is $1500 but if they are hungry or in a hurry you can bump that up.
The standard for a coalbed well seems to be in that $650 range, as they use a lot less water and are only in for a couple of days...they are hard to deal with!
Now when you get the money do you pay tax on it? Do you declare it? That is a pretty gray area that you need to talk to your accountant about.
Unfortunately a lot of farmers don't know what the going rate is in their area and they get screwed. They would never want to share their money secrets with anyone else! The drilling consultant just loves these kind of guys!
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