Ford Frick of BBC Research in Denver recently presented the results of a land values study commissioned by Garfield County. The study looked at the factors that drive land values and the the impacts of “rural industrialization” including gas well drilling and gravel pit operations in the county.
Frick and his team analyzed 7,600 property transactions from 1987 to 2004 as well as drilling data. There are 5,010 well drilling permits currently held in the county and 2,675 operating gas wells.
The gas industry ultimatley contributes to housing appreciation. The value lost during initial drilling activity is more than recaptured a few years later by the increasing demand for housing so don't sell your property at the first site of a drilling rig!