EQT Spends $1.6M to Lease More Land Under Monongahela River

The Pennsylvania Dept. of Conservation and Natural Resources (DCNR) has just amended an existing lease with EQT that allows EQT to extract natural gas (and other hydrocarbons) from underneath the Monongahela River in Allegheny, Greene, Fayette, Washington and Westmoreland counties. EQT is paying $4,000 per acre for 392 acres ($1.568 million total) in a signing bonus, along with a big 20% royalty on anything produced. However, the announcement raises an important question we’ve asked for more than four years: Is the land under rivers and streams actually owned by the state? PA says yes. We suspect landowners who own land along those rivers and streams would say otherwise. The state grabbing money for land under bodies of water has been going on for years (see PA DCNR Program Leases Under Rivers/Creeks for Marcellus Drilling and PA DCNR Publishes Lease Agreements for Deals Under Rivers/Creeks). Below is the latest lease deal by DCNR to lease more land under the Monongahela River…

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