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W.Va. Finalizes Deal With Statoil To Drill Under Ohio River
2015-03-24 07:10:47| Logistics - Topix.net
For an average price of $8,732 per acre with 20 percent production royalties, the West Virginia Department of Commerce with allow Norway-based Statoil to frack for oil and natural gas thousands of feet beneath the Ohio River. The finalized lease agreement for drilling in state-owned mineral tracts under the river is in addition to those filed by Noble Energy and Gastar Exploration, which would pay the state $4.9 million and $749,000, respectively, in addition to the 20 percent royalties.
Tags: deal
river
ohio
drill
Category:Transportation and Logistics
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