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Monday, August 12, 2013

Muskingum Watershed Talks About $77 Million in Revenue Generated Through Oil & Gas Leases

From the Daily Jeffersonian:
What a difference a year can make when you have accurate information. To wit, Muskingum Watershed Conservancy District officials have embarked on an educational campaign emphasizing the three "Rs" -- Reservoirs, Royalties and Revenue.
The public uproar last year about selling MWCD water to drillers for fracking operations, resulting in the MWCD imposing a moratorium on sales of one of Ohio's most valuable resources to the gas and oil industry -- until a "water availability study" could be completed and its water supply policy was updated.
Today, less than 14 months later, Darrin Lautenschleger, public affairs administrator of the MWCD, guest speaker at the Guernsey Energy Coalition Thursday morning, explained the impact the gas and oil industry has had on the MWCD to attendees at the monthly meeting at the Southgate Hotel, sponsored by the Cambridge Area Chamber of Commerce.
After a brief history about the MWCD, Lautenschleger's PowerPoint presentation highlighted the "how and why" of significant changes in MWCD's financial status culminating in an additional $77 million in revenue, since 2011, a result of one-time signing bonuses from two new leases with gas/oil producers, and other land holdings. The leases are for gas/oil water usage and drilling operations near or on MWCD property.
Read the rest of this story here.

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