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Friday, May 31, 2013

MWCD May Cut Costs for Property Owners As It Receives Oil & Gas Royalties

From WKSU News:
The Muskingum Watershed Conservancy District is considering a plan to reduce the assessments it began levying on nearly 500,000 parcels of land in 18 counties last decade. 
How much the assessments are lowered will depend on how much the district collects in oil and gas royalties from Utica shale drilling. The Conservancy Court will review the plan at a session Saturday at the Tuscarawas County Courthouse, but the district is cautioning that no reductions will likely occur before 2015. 
Since 2011, the conservancy district has approved three leases in the Utica Shale region. It cleared $77 million in signing bonus payments, and has just received its first royalty payment of $750,000. The district collects about $11 million in assessments on land owners. Themoney goes toward operation of dams and reservoirs.
Read the whole article here.


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