Columbiana County Lease with Chesapeake, Highest Bonus Ever

Columbiana County, OH has just signed a deal with DPS Penn (an agent for Chesapeake Energy) to lease 548 acres for Utica Shale drilling. And they astutely doubled their money from the original offer from DPS a year ago. The new terms of the deal, just signed, are for $5,850 per acre and a 20 percent royalty. Columbiana also negotiated the lease term down to three years. A typical lease is five years.

The deal makes Columbiana breaks the record as the highest signing bonus granted to any government body for a Utica (or Marcellus) Shale lease deal.

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