XTO is lease at the same rate as last year.

October 16, 2012

WOODSFIELD - Monroe County is receiving more than $391,000 as well as oil and gas royalties a result of leasing 78.2694 acres of county-owned land to XTO Energy Inc., Fort Worth, Texas.

It's a five-year lease, and the amount being received for "the signing, lease bonus or initial consideration for the lease shall be in the amount of $5,000 per acre ....," according to the agreement. The total is $391,347.

Mike Cannon of the Texas energy company met last week with the commissioners about the lease for the land near the Monroe County Airport in Center Township.