Columbiana County gets a big paycheck
Monday, June 25, 2012
According to The Business Journal, Columbiana County approved a mineral rights lease last week for $3.2 million.
Here’s an excerpt:
The deal with DPS Penn, an agent for Chesapeake Energy Corp., pays the county $5,850 for each of the 548 acres it’s leasing for shale drilling. The county stands to receive $3.2 million in bonus payments plus a 20% royalty.
» Via: The Business Journal › Columbiana County gets $3.2M for Drilling Rights
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.