Driller Offers 10X Less for Vertical Leases than Horizontal in OH

In Ohio, oil and gas drilling has been going on for decades, long before Chesapeake Energy “discovered” oil in the Utica Shale a few years ago (see Major Discovery – Chesapeake Energy Strikes Oil (and Gas) in Ohio’s Utica Shale). An article from an Ohio newspaper mentions the amount landowners in Perry County are being offered in the way of signing bonuses for traditional, vertical (or “conventional”) drilling leases. It’s a tiny fraction of what landowners receive for leasing Utica Shale acreage:

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