Oil and gas exploration has been going on in Pennsylvania for more than160 years, Buchanan Ingersoll & Rooney Energy Co-Chair Sean W. Moran explained to the Associated Press, but the Marcellus Shale boom has banks paying close attention to the industry.
“Most banks are trying to court landowners who have oil and gas rights,” he said. Though there are rumors of gas leases negatively impacting mortgages, Moran noted a lack of hard data to suggest the problem is significant.
Moran’s remarks were published in more than 10 publications nationwide, including The Wall Street Journal, CNBC.com, Businessweek.com, Philadelphia Inquirer and Austin News.
Full article – “Pennsylvania homeowners, banks examine oil, gas leases,” Associated Press (September 2, 2012)