Rice Pays Belmont County Higher Signing Bonus than Landowners

Rice Drilling is betting big on Belmont County, OH. County commissioners recently signed a sweet deal with Rice Drilling for 406 acres of county-owned land. The lease terms were $7,500 per acre signing bonus and a 20% royalty. That delivers just over $3 million to the county coffers, plus a lot more when the gas begins to flow. The county deal is, however, sweeter than other recent contracts signed by Rice in the area--contracts between Rice and more than 1,000 landowners in Belmont County. Those leases resulted in payments from Rice for more than $236 million! But area landowners got "just" $5,900 per acre from Rice for a signing bonus...

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