OH’s Largest School District Gets $1M+ from Lease Bonuses
Ohio’s largest school district (geographically speaking), the Switzerland of Ohio Local Schools in eastern Ohio, has raked in over $1 million so far from Marcellus/Utica Shale drilling deals. It’s located in some of the best drilling spots in the Ohio Utica (Monroe/Belmont/Noble counties). Even so, the school is headed for “devastating cuts” according to the school treasurer, due to a collapse in enrollment over the last 20 years.
The money received so far from shale deals is from lease payments, not royalties. Will the school district go on over the fiscal cliff? Or will shale royalties come along in time to save the day? School officials are not sure…
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Well lookie here! Just yesterday MDN was waxing eloquent on alternatives to using water in fracking (see
This is BIG news: It seems we haven’t heard the last from Norse Energy–the Norwegian-based driller that just over a month ago converted from Chapter 11 bankruptcy, or “keep the creditors at bay while we reorganize,” to Chapter 7, or “sell off the furniture and turn off the lights” (see