Marshall County May Lower Property Taxes Thanks to Marcellus
Marshall County is one of the most drilled, and most pipelined, counties in West Virginia. The Marcellus/Utica industry has been good to Marshall County. Really good–in both jobs and tax revenue. In fact, you are not going to believe this (we had to read it a few times)…but the County Assessor in Marshall, the guy who calculates what your property is worth for taxpaying purposes, is trying to convince Marshall County Board of Education members to LOWER property tax rates. Why? Because frankly, they have more money coming in than they can use. The county will realize $712 million in new tax revenue this year–and of that, 72% (or $513 million) will go to Marshall County schools. Incredible! When was the last time you heard of property taxes going down? The question is, what will the board follow the assessor’s recommendation?…
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In February, West Virginia passed a new law “fixing” an old law. The old law, which was itself a new law just a few years ago, stipulated if oil and gas leases/operations change hands, the new owner must apply for permits to drill all over again, even if the previous owner had already been awarded those permits. This was a really big problem for Southwestern Energy that had just purchased $5 billion worth of leases and operations from Chesapeake Energy, most of it in WV. So the WV legislature passed, in record time, a law to fix the problem–and Gov. Earl Ray Tomblin signed it (see
Yesterday MDN reported a story that (so far) few others have bothered to report: West Virginia’s House Bill (HB) 2688 failed to gain passage at literally the eleventh hour–one hour before the annual 60-day session ended (see
In a stunning upset at the eleventh hour, WV House Bill (HB) 2688, a bill that allows forced pooling (and a bill that seemed assured of passage just last Friday) died in a rare tied vote. On Friday, we told you HB2688 was all but a done deal (see
Local media in West Virginia is reporting that early Tuesday afternoon a Gastar Exploration worker was injured in an accident at a brine injection well (owned by Gastar) in New Martinsville (Wetzel County), WV. The only thing we know is that the man’s leg was injured. We don’t know his condition or, frankly, many other details. Here’s what we’ve been able to find out so far…
On March 3, a federal judge awarded a Tyler County, WV mineral owner $4.8 million in present and future royalties (plus interest) as damages in a dispute involving the operator’s failure to follow through on some unusually generous lease terms. The operator, Cunningham Energy LLC of Charleston, WV, had promised to horizontally drill eight wells to and through the Marcellus Shale formation within three years, but was unable to do so–largely because the leaseholds were far too small to develop as stand-alone units, and the surrounding lands turned out to be already under lease to other drillers…
Three weeks ago MDN reported a Buffalo, NY-based company had successfully gotten all necessary permits to move forward with building a $615 million, 549 megawatt electrical generating plant near Moundsville, WV that will be powered by Marcellus Shale gas (see
West Virginia House Bill (HB) 2688 (see