Muskingum Watershed District Signs with Antero for $40.3M Bonus

Nearly a month ago MDN told you the directors of the Ohio Muskingum Watershed Conservancy District (MWCD) would consider a deal with Antero Resources to allow drilling and fracking on 6,700 acres under and around the Seneca Lake area (see OH Muskingum Watershed District to Sign Drilling Lease in Feb.). At the time, details of the deal were still not disclosed, but we theorized based on past deals the MWCD would probably make around $40 million in new lease payments.

The directors at the Watershed District voted to pass the deal last Friday. The amount they’ll get for a signing bonus? $40.3 million—or $6,200 per acre for leasing 6,500 acres (acreage number was adjusted down a bit). Plus 20% royalties.

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