Knock knock. Who’s there? Oil Farmer who?
Some farmers in central VA can expect a knock on the door from an oil executive who has a motive. If some oil companies have estimated correctly… there’s an abundance of oil and natural gas under Virginia farms. Already, farmers in Caroline, Essex, King George and Westmoreland counties are being paid $15 per acre by an oil firm in exchange for the right to set up rigs and equipment in order to look for any gas or oil reserves. The farmers would then also receive one-eighth of whatever is discovered.
The oil companies are specifically looking in the Fredericksburg VA area. They hope to lease about 80,000 acres of private land and also another 20,000 acres of government land for their testing. If they’re successful in finding oil or gas resources, they still need to build the infrastructure to get the products to the marketplace, so this story will be around for a while. HERE are more details of the plan.
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