Pennsylvania

Energy. Environment. Economy.

“Pa. Banks, Homeowners Examine Oil and Gas Leases”

With the rapid increase in shale gas drilling, some banks are taking a closer look at financing for properties that have drilling leases.

When Donald Yost tried to refinance his home about 30 miles north of Pittsburgh in January, he met a roadblock. It wasn’t his credit score – he had a solid rating – or the appraisal he’d paid almost $500 for – that was good, too. Instead, it was the lease he has that allows a company to drill for gas about a mile underneath his property, similar to leases that many of his neighbors have.

Read more at: www.businessweek.com

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