Chesapeake Real Estate Purchases in Ohio Signal Expansion

Chesapeake Energy has just paid $630,000 for two pieces of real estate in Belmont County, Ohio—ground zero for Utica Shale drilling in eastern Ohio. Chesapeake will not officially comment on the purchases, but there’s little doubt they will build a new satellite office at one location for their Ohio drilling operations, and perhaps use the other parcel (land and warehouse) for storage and operations. It shows the serious commitment Chesapeake is making in Ohio and signals their further expansion in the area.

Chesapeake Energy is expanding its operations in Belmont County by purchasing 30 acres of property at Fox Commerce Park for $300,000.

The purchase now on file at the Belmont County Recorder’s Office accompanies dozens of new leases Chesapeake recently signed. The new leaseholdings are scattered throughout the county, with the Oklahoma City-based driller staking claims in Goshen, Colerain, Flushing, Pultney, Kirkwood, Mead, Pease and Warren townships.

Chesapeake also paid $330,000 to purchase 10.66 acres of land and a warehouse at 41340 National Road in Belmont, with most of this money going to United Bank once the Belmont County Sheriff’s Department completed the sale to Chesapeake.

The deed on file at the recorder’s office does not indicate how much Chesapeake paid the Belmont County Community Improvement Corp. for the land at Fox Commerce Park. However, attorney Richard Myser, who prepared the deed, said the price was $300,000.*

*Steubenville The Herald-Star (Dec 19, 2011) – Chesapeake expands Belmont operations