Tuesday, October 21st, 2014
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Thursday, 12 June 2014 09:31

Belmont County inks $3.5 million drilling lease deal

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Rice Energy reaches another multi-million dollar agreement with county officials


BELMONT COUNTY, Ohio -- The Belmont County Commissioners reached another multi-million dollar mineral rights leasing agreement during their regular meeting Wednesday.


The commissioners said that the deal with Pennsylvania-based Rice Energy will initially net the county around $3.5 million. The lease agreement concerns 424 acres in the county, and also includes 20-percent royalties.

Commissioner Matt Coffland said that Rice Energy is quickly becoming a neighbor and corporate resident in Belmont County. In April, the commissioners reached a separate agreement with Rice Energy for around $3 million.

Rice Energy President and COO Toby Rice said Belmont County is one of the most actively drilled counties. Last month, drilling industry officials announced that Belmont County is home to the best-producing natural gas well in the state.


Last modified on Wednesday, 09 July 2014 10:51
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