MOUNDSVILLE, W.Va. -- Chesapeake Energy has received a lease to drill for natural gas at a Marshall County park.
MOUNDSVILLE, W.Va. -- Chesapeake Energy has received a lease to drill for natural gas at a Marshall County park.
The Marshall County Parks and Recreation Board and Chesapeake agreed on a gas lease contract this week for drilling at Grand Vue Park. The park will receive $2,900 per acre. If any drilling occurs, the park also will receive gas royalties of 18.75 percent.
Drilling will be limited to certain areas of the park.
Grand Vue General Manager Craig White says the park will receive an initial payment of more than $1.5 million in 90 to 120 days.
Parks and Recreation Board Park President Alfonoz Flores sad Thursday that the lease agreement will provide funding for projects to maintain the park.
MOUNDSVILLE, W.Va. -- Chesapeake Energy has received a lease to drill for natural gas at a Marshall County park.
The Marshall County Parks and Recreation Board and Chesapeake agreed on a gas lease contract this week for drilling at Grand Vue Park. The park will receive $2,900 per acre. If any drilling occurs, the park also will receive gas royalties of 18.75 percent.
Drilling will be limited to certain areas of the park.
Grand Vue General Manager Craig White says the park will receive an initial payment of more than $1.5 million in 90 to 120 days.
Parks and Recreation Board Park President Alfonoz Flores sad Thursday that the lease agreement will provide funding for projects to maintain the park.
