A natural gas discovery in
Energy companies are trying to buy up land in Floyd and Chattooga counties following the opening of a natural gas field in northeast Alabama.
Officials urge anyone confronted with offers to buy mineral rights on their land to seek legal advice before signing any contract.
According to the Rome News-Tribune, the energy companies are offering as much as five-hundred dollars per acre for a five year lease of the mineral rights. But local officials warn that mineral rights apply to anything that is in the ground, not just pockets of natural gas.
Officials say property owners may also not realize that a five year lease could last a lot longer. Under the terms of some contracts, a natural gas find would automatically extend the lease until the well stops producing.
The state of Georgia does not regulate most shallow drilling.