Fact Sheet: Shale Development Boosting Property Values & Royalty Payments
That’s not the end of the good news. A new infographic by Energy In Depth highlights the positive impact shale development is having for property values and private landowners in states with oil and gas development. In eastern Montana, for example, thanks to development of the Bakken Shale, property values grew by 102.13 percent in Richland County, 66.72 percent in Sheridan County, and 66.16 in Daniels County. Texas property values, meanwhile, increased from $598 million in 2011 to an estimated $1.8 billion in 2012.
Colorado expects to see a similar trend. According to Weld County Assessor Chris Woodruff, the county believes there will be “at least a 20 percent increase in residential property values” because oil and gas activity is “driving up demand in housing.”
Private landowners are also benefiting enormously from new royalty and tax payments. In 2012, North Dakota landowners received over $5 billion in oil and gas royalty payments, while Texas landowners were paid an estimated $15 billion. That same year, Marcellus Shale land and mineral-owners received a total of $731 million in royalty checks.
Check out EID’s new fact sheet — Shale Development and Property Values – to learn more.