Rice Energy Does 2nd Deal with Belmont County, $8,200/Acre!

In April, Belmont County officials signed a lease with Rice Energy to allow drilling on 406 acres of county-owned land for a staggering $7,500 per acre and 20% royalties. They liked it so much, they immediately put another 426 acres up for bid (see Belmont County Shopping New Deal to Lease Additional 426 Acres). It didn’t take long for Belmont County to sign a new lease with Rice for the second parcel–for an even higher $8,200 per acre signing bonus with 20% royalties…

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