Monday, April 29, 2013

Barnesville School District Agrees to $400,000 Drilling Lease

From The Intelligencer/Wheeling News-Register:
As Antero Resources continues locking up acreage in the village, the natural gas driller will pay Barnesville Exempted Village School District more than $400,000.
"It sounds like this is going to be a busy place for the next few years," said school Superintendent Randy Lucas. "They gave us a ballpark guess that they would start drilling sometime over the next two years."
Denver-based Antero already has signed the village of Barnesville to a drilling contract, along with many individual landowners in the community. The deals call for Antero to pay $5,700 per acre to lease the land and 20 percent of production royalties once the gas starts pumping. These are also the terms of the school district's contract, Lucas said, noting the board of education voted unanimously to accept the deal.
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