Uncles gas well is being turned off. No more free gas.

It seems like they got a bunch of money and investors and paid out all this cash to landowners and basically screwed up their land and probably did pay some some good money initially but royalties are hit and miss and there is no way to prove they are giving you what they are supposed to and then they file bankruptcy and close your well and turn off your free gas and now youve got a jacked up property with no gas...

Your uncle has gas?

Yes.

Sounds like your uncle needs a good plumber to "rectify" the situation.

Perhaps but I think they will be making it not operational unless he pays $500,000 to keep it open or something he can't do.

When you open a bazillion new wells at once, there is a good chance the price of gas is going to go down and/or stay down right? So now all these companies are filing bankruptcy and investors are getting screwed. Perhaps this will be the next crisis. The natural gas crisis. Billions in bad investments starts chain reaction that reactivates the 2008 meltdown that had been solved by signing over our sovereignty for a few more years of normalcy.

Or its just one uncle and one well.

When you abandon a well you must seal it with a concrete plug. Law makes you do it.

Some properties have free gas from an otherwise non producing well. Just enough comes out for one user. But I believe this was the agreement when the original gas company disconnected themselves from the well.

Need more details there son. Is this a new well? Is there a written agreement that allows for free gas in perpetuity? What was the deal?

Thanks! They are still in the midst of figuring this out. Its complicated by many companies and change of ownerships and bankruptcies and pipelines.