Cornell Cooperative Extension : Gas Leasing and Exploration

CCE has created a website devoted to this topic. The CCE Natural Gas Development Resource Center can be found at, http://gasleasing.cce.cornell.edu/

Public sessions on Marcellus Shale exploration

CCE will host a series of public meetings across New York's Southern Tier during July and August to educate residents about issues associated with the development of natural gas production in the Marcellus Shale.

CCE has organized a Marcellus Shale Team comprised of Cornell faculty and extension educators to provide targeted education, training, and support to a variety of stakeholders, ranging from local officials to individual landowners to concerned citizens. The CCE "road show" will bring Cornell educators to local communities to cover environmental,
community and economic development, regulatory, and leasing issues related to natural gas drilling.

The meetings, co-sponsored by CCE Association offices, will occur from 7-9 p.m. Residents should contact their local CCE Association for more details. The tentative schedule is as follows:

Grace United Methodist Church in Corning (Steuben County), July 16;

Chenango Town Hall (Broome County), July 22 - call 607-584-9966 to register

Waverly (Tioga County), July 28; Waverly High School - call CCE Tioga
at 607-687-4020 to register

Watkins Glen (Schuyler County), Aug. 5;

Liberty (Sullivan County), Aug. 17

"Intensive natural gas development in other states has, in recent years, been accompanied by substantial changes in established trends in population, land use, environment, community, and economy," said Rod Howe, assistant director for Cornell Cooperative Extension and one of the road show facilitators. "These changes have the potential to
transform the fabric of many-especially rural-communities in New York in
ways that are both positive and negative."

Howe added that examining the ramifications of natural gas drilling at the outset "makes it more likely that negative impacts will be minimized and positive aspects realized."

CCE’s upcoming events:

2009 A Primer for Natural Gas Taxation Issues Applicable to NYS Landowners

Introduces tax practitioners to the income tax rules pertaining to landowners involved in leasing for natural gas drilling in NYS.

Brochure and Registration Form, go to:
http://agfinance.aem.cornell.edu:80/Primer%20for%20Natural%20Gasschool.htmlDATES &

LOCATIONS:

August 24, 2009, Batavia, NY at the Batavia Party House
August 26, 2009, Liberty, NY at Cornell Cooperative Extension, Sullivan County
August 27, 2009, Owego, NY at the Owego Treadway Inn

This seminar will introduce tax practitioners to the income tax rules pertaining to landowners involved in leasing for natural gas drilling in New York State. It will provide a comprehensive background on the exploration, drilling and production processes, lease arrangements, and
the current leasing situation for New York State landowners. Specific coverage will include lease payments and pertinent lease clauses, depletion rules, royalty and working interests, miscellaneous income items, forced pooling, Federal income tax legislation and regulations,
application of AMT, special NYS tax issues, industry terminology, available research resources, and suggested practices for your firm.

Speakers: James E. Leonard, CPA, PLLC, Endicott NY;

Joseph A. Bennett, CPA, Senior Extension Associate, Cornell.

New York Marcellus Shale Summit Monday, Nov. 30, 2009, at the Owego Treadway Inn.

The Marcellus Shale Team, a core group of Cornell faculty and staff, is researching expected impacts of natural gas exploration in the region, as well as possible mitigation strategies.

CCE will also continue to promote cross-collaboration of outreach and
education among the educational and research institutions throughout the
Marcellus Shale region.