Antero Pays $15K/Acre, 20% Royalties for MWCD Piedmont Lake Lease

wowAll’s we can say is “WOW!” Last Friday the Muskingum Watershed Conservancy District (MWCD) signed another (new) lease with Antero Resources to lease more than 6,300 acres in and around Piedmont Lake, in Guernsey, Harrison and Belmont counties in Ohio. The land is in prime Utica Shale territory and Antero must have wanted it bad, because they paid a $15,000 per acre signing bonus. Plus 20% in royalties for anything produced from the land. That is, by far, the largest bonus payment we have ever heard of in the Marcellus and Utica region.

Landowners in the MWCD area should be thankful. Because of this deal and other leases signed by the MWCD, the rates landowners pay to the MWCD are going down–by 50%–starting next year. What a fantastic story where everyone wins. Landowners win with lower watershed fees, Antero wins by scoring what will no doubt be very productive property for shale wells, America wins with more (and cheaper) natural gas. There are no losers in this scenario. Here’s more on Friday’s meeting of the MWCD board and the decisions they made…

Please Login to view this content. (Not a member? Join Today!)
Password Reset
Please enter your e-mail address. You will receive a new password via e-mail.