The village council of Carrollton, OH, has voted in favor of a nondevelopmental oil and natural gas lease agreement with Rex Energy Corp. that was valued at $938,000 on Monday.
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Chesapeake Agrees to $3,500/Acre Signing Bonus in Salem, OH
Chesapeake Energy Corp. and the City of Salem, OH, have agreed to sign a three-year nondevelopmental lease, with an option for an additional three years, for 381 combined acres of land owned by the city. Chesapeake agreed to pay a signing bonus of $3,500/acre, plus 20% royalties on gross revenue on any production.
July 11, 2012
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