Rice Drilling is betting big on Belmont County, OH. County commissioners recently signed a sweet deal with Rice Drilling for 406 acres of county-owned land. The lease terms were $7,500 per acre signing bonus and a 20% royalty. That delivers just over $3 million to the county coffers, plus a lot more when the gas begins to flow.
The county deal is, however, sweeter than other recent contracts signed by Rice in the area–contracts between Rice and more than 1,000 landowners in Belmont County. Those leases resulted in payments from Rice for more than $236 million! But area landowners got “just” $5,900 per acre from Rice for a signing bonus…
