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Managing Haynesville Shale Profits

By: Karen Hopkins
Updated: August 7, 2008
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Oil PipeThe Haynesville Shale is turning everyday people into millionaires. But it is not as glamorous as it sounds. Local financial experts say they are getting many calls from people asking for advice. They say the first tip for people getting those fat checks is to stay calm. Do not make any major lifestyle changes without consulting a financial expert. Still, there's lots of excitement with striking it rich. We talked to one couple who is cashing in big. "I have a hard time figuring out what I want to buy next because you don't get all the money at the same time," Frierson landowner Butch Dillard said. Ernie McDaniel, president of McDaniel Financial, said that people need to think long term. McDaniel just released a book called “3 Miracles and 7 secrets.” McDaniel said making financial decisions requires research, and that investors should not make decisions based on hot trends. Also, people getting lease bonus checks need to consider the extra money they will have to pay in taxes. Depending on the size of the check, it could be thousands of dollars.

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