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Friday, March 7, 2014

St. Clairsville Gets No Bids, Will Continue to Discuss Leasing Oil & Gas Rights

From The Intelligencer/Wheeling News-Register:
At a lease rate of $7,300 for each of its 195 mineral acres, St. Clairsville city leaders stood to collect more than $1.42 million from a Utica Shale natural gas company - in addition to gaining 20 percent worth of royalties at the start of production.
Although Gulfport Energy, Rice Energy, Hess Corp., American Energy Partners, Antero Resources, XTO Energy and others are drilling and fracking across Belmont County, none of them bid on St. Clairsville's "request for proposal" that was due Tuesday.
"We've had some interest, but no one wants to reveal what they want to bid," said St. Clairsville Mayor Robert Vincenzo. "Ohio Revised Code said we had to bid it out. Now that has been bid out, we can talk to them."
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