OH Village Gets $307K Signing Bonus, 18.25% Royaly to Lease 72 Acres

Last night, the village of New Matamoras, in Washington County, OH, was handed a check for $307,687.25. The general fund budget for all of 2014 was $121,368! The check came from MNW Energy, which is acting as the land broker for Triad Hunter (a division of Magnum Hunter Resources). The money is the up-front lease signing bonus for 72 acres of village owned-land that Triad plans to drill under. The payment amounts to a signing bonus of $4,275 per acre. When and if Triad drills, the village will get an 18.25% royalty on all gas/liquids produced. The biggest “problem” Matamoras had was how to cash the check! The next “problem” they have is how they’ll spend it. Here’s the low-down…

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.