Eclipse wins 987 acres in Wayne National Forest
Tuesday, April 18, 2017
Eclipse Resources won a majority of the leases in the federal auction for rights to land in Wayne National Forest in southern Ohio, according to Kallanish Energy.
The company bid $3.55 million for 987.03 acres of the 1,180 acres auctioned by the Federal Bureau of Land Management. The acreage sits in one of Ohio’s top drilling spots in the Utica Shale, Monroe County.
Others winning drilling rights within Wayne National Forest included Flat Rock Development, bidding $1.14 million for 120.39 acres, and investor Philip White, bidding $396,840 for 39.68 acres. In total, 20 parcels were auctioned off for nearly $5.2 million.
Learn more: Kallanish Energy > Eclipse wins in Wayne National Forest auction
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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.
So, as I understand this, they purchased the mineral rights to 987 acres of Wayne National Forest for approx imately $3,600/acre. They did not purchase the forest land and they did not purchase rights to timber the land. Correct?
Did they purchase the mineral rights or acquire a lease to those rights for some period of time? Big difference!