Columbiana County Port Authority Leases Land to Chesapeake

The Columbiana County (OH) Port Authority voted on Monday to lease 43.9 acres of its property in Beaver County, PA to Chesapeake Energy.

The Columbiana County Port Authority authorized the lease of 43.9 acres of its property in Darlington Township in Beaver County, Pa., to Chesapeake Exploration LLC. The lease lasts through March 31, 2017, with the option to extend the lease for one additional five-year term.

At $1,800 per acre, the port authority will receive nearly $80,000, said the port authority’s CEO, Tracy Drake.*

*Youngstown (OH) The Business Journal (May 22, 2012) – Columbiana Port Authority Leases Land to Chesapeake