To piggy back off my own comment a bit. It’s underwater because the benefit that a lot of people were convinced was coming to the state didn’t materialize like they thought.
To touch on something that were pointed out by someone else a few days ago, there aren’t these hundreds of thousands of jobs that Trump claims and that people were told were coming. Most of the drilling crews are out of Texas.
Secondly, the Republican state government at the time was either duped or complicit in becoming the only state that doesn’t have a gas severance tax. They charge a 1 time fee to drill the well. So now years later the money to the state and local governments is dwindling as fewer wells are being drilled but production is at an all time high. A lot of the profit is leaving the state and going to Range Resources and the like.
Then you have the majority of people who care more about the environmental impacts more than than they give a shit about some yokel who happened to be lucky enough to be sitting on a couple hundred acres of rural land that no one wanted to do anything with because it was too steep and rocky for farmland and too remote for anything else.