The Brooke County Park Commissioners as well as West Liberty University got $5000 per acre with 17.5% royalty lease bonuses with Chesapeake.
Let's keep this in mind when negotiating our oil and gas leases.
What do you guys think about this?
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I just posted this on the Guernsey county oh under best prices, we have some land groups that have to make a decision in September
Brooke Hills Signs Chesapeake Lease
Will allow drilling on park land for money to pay operations costs
February 26, 2011
By WARREN SCOTT
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WELLSBURG - Officials with Brooke Hills Park have signed a lease agreement allowing a natural gas company to drill in the area of the park, citing a need for more money to operate the park.
Drilling, overseen by Chesapeake Energy, could occur on 51 to 227 acres of the park. The park could receive $5,000 per acre in lease revenue, according to the minutes of a special Jan. 5 meeting of the Brooke County Park and Recreation Commission, which oversees the park. No information regarding royalty rates to be paid on potential gas production was provided.
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