Webinar discusses Property Value Studies near Shale Gas Extraction Sites
Posted: March 6, 2017
During the early development of shale in Pennsylvania, decisions on shale development on one’s land were made based on positive economic impacts and information available at the time. How do these past decisions play a role on property values today?
Dr. Charles Abdalla, Professor of Agricultural and Environmental Economics and Darrah Peklak, a Penn State University economics and /geography student, will discuss the findings of published studies on residential property values near shale development during this month’s March 16th shale webinar, held live from 1 to 2 PM ET.
This webinar will examine the results of peer-reviewed studies research that have employed property value analysis methods to estimate possible negative impacts. Webinar presenter Abdalla states, “We’ll review two studies that were conducted in Pennsylvania in recent years. Estimates between 2 to 21 percent reduction in value of homes near well pads were found, depending on the property’s characteristics, such as water source and neighboring land use. It is worth noting some nearby homes experienced increases in property values.”
Peklak will highlight other key findings. “Properties with private water wells (groundwater) and located within 1.5 kilometers of a shale gas well drilling pad experienced significant negative property value impacts. Properties in close proximity to major roadways can experience continuing negative impacts past the drilling stage.”
The researchers emphasized that these results reflect what we know now. As more research is done on the physical and economic implications of shale gas extraction, our knowledge can be expected to change. Abdalla concluded that “as a result of these published studies, homeowners and others have a more complete and richer picture of the expected economic impacts of shale gas extraction. With improved, comprehensive information from this type of research, homeowners and other stakeholders are likely to make better decisions than in the past.”
While free, registrations for the educational webinars are necessary. All can go to the Penn State Extension Natural Gas Events page to register and to find out more information for each upcoming webinar at http://extension.psu.edu/naturalgas/events. For more information, contact Carol Loveland at 570-320-4429 or by email at email@example.com .
Penn State Extension's Marcellus Education Team provides monthly webinars on a variety of topics. Upcoming webinars for 2017 include:
Apr 13 “Hydraulic Fracturing and Induced Seismicity”, David W. Eaton, PhD, Professor, Department of Geoscience ,University of Calgary, and NSERC/Chevron Industrial Research Chair in Microseismic System Dynamics
May 18 TBA
June 15 “Shale Legislative Updates”, Ross Pifer, Clinical Professor at Penn State’s Law School, Director of the Rural Economic Development Clinic and the Director of the Center for Agricultural and Shale Law
Previous webinars, publications and information also are available on the Penn State Extension natural-gas website (http://extension.psu.edu/naturalgas), covering a variety of topics such as liquid natural gas, seismic testing, methane emissions; water use and quality; Marcellus and Utica basins; natural gas reserves; gas-leasing considerations for landowners; legal issues surrounding gas development; and the impact of Marcellus gas development on forestland.