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

Cool man... glad I could help out! :)
Todd,  Do you have any idea of how many acres were leased from Brooke County and West Lib ?

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.

  • West Liberty University also has signed a gas lease deal. The school expects to receive $5,000 per acre for its 279 acres, or about $1.4 million, not including 18 percent in royalties if drilling begins. The school plans to use its money to help build a new science center on campus. (Wheelings News-Register, 7/24/11)

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