Shale Drillers Allowing Some Leases to Expire in Columbiana County
From Business Journal Daily:
A survey of oil and gas leases up for renewal in 2016 across Columbiana County shows that energy companies are still interested in developing this portion of the Utica shale, but not quite as enthusiastically as they were five years ago when these leases were first signed.
According to data provided through the Columbiana County recorder’s office, 535 oil and gas leases were listed as extended during 2016, most of them with Chesapeake Exploration LLC.
During the same period though, 612 leases in Columbiana County were released during the year and allowed to expire, according to county records.
“Lease expirations are happening daily,” observes Alan Wenger, an attorney for Harrington, Hoppe & Mitchell Ltd. who directs the law firm’s oil and gas division. “We’re now approaching the second wave, and a lot of people are watching this.”Read the whole article by clicking here.
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