Ownership of Oil and Gas Rights: Implications for U.S. Farm Income and Wealth

by Claudia Hitaj, Jeremy G. Weber, and Ken Erickson

With the shale revolution, annual oil and gas production grew by 69 percent in 2005-14, and almost 67 percent of production in 2014 occurred on farmland. Using data from USDA’s Tenure, Ownership, and Transition of Agricultural Land (TOTAL) survey, this report quantifies the farm sector’s oil and gas wealth and income and sheds light on how oil and gas booms and busts may affect farm finances.

Keywords: oil and gas, farm income and wealth, split estate

In this publication...

• Entire Report
• Report summary