Over 200 Attend Foundation's Haynesville Shale Workshop
August 19th, 2008
Plenty of information and advice was shared with United Methodist landowners and pastors at the United Methodist Foundation's recent Haynesville Shale workshop last week, but the underlying themes were: 1) seek legal counsel before you sign anything, 2) plan ahead to minimize what you have to pay Uncle Sam should you receive a large payout, and 3) explore ways to maximize tax opportunities for yourself and your heirs with that windfall.
The United Methodist Foundation of Louisiana hosted a crowd of more than 200 for an oil and gas workshop and dinner on August 19, in response to the recent Haynesville Shale natural gas discovery in north Louisiana. The workshop was held at Broadmoor United Methodist Church in Shreveport, where Judge Jay J. Caraway and CPA Bill Potter addressed such topics as oil and gas leases, legal issues concerning oil and gas, tax issues for owners of mineral rights, tax saving opportunities and other insights into the Haynesville Shale oil and gas activities.
Dozens of oil companies and hundreds of landmen are racing to snag as much property as they can by asking landowners to sign oil and gas leases. Many United Methodist members and churches have been approached with offers of signing bonuses, future royalties and the like. The
more workshop was designed to help inform landowners before major decisions are made and to advise them about the tax planning that large payoffs necessitate.
Copies of the workshop materials may be downloaded and printed from the Foundation's website at www.umf.org, as well as a list of experienced oil and gas attorneys recommended by the Shreveport District Office.
The United Methodist Foundation of Louisiana was founded in 1975 and serves United Methodist churches, institutions and individuals within the Louisiana Annual Conference, providing financial management, consultation and education, loans and grants. It is the fourth largest United Methodist Foundation in the denomination.
