Marietta, OH Offered $4,750/Acre + 17.5% Royalties for 35 Acres

An offer–or more accurately a pre-offer–was made at the Marietta (OH) City Council meeting yesterday that would put an initial $166,250 in the city’s coffers from leasing 35 city-owned acres along the edge of the city for shale drilling. A driller is tentatively offering $4,750 per acre as a signing bonus, plus 17.5% royalties, for land in the area. Some city council members (Democrats) expressed concerns about the potential offer, and several residents from anti-drilling groups in attendance also added their drivel 2 cents.

Here’s more of the details about the offer–the driller who’s making it, when the drilling would begin, and what was ultimately decided as the next step at yesterday’s meeting…

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