Deersville signs mineral lease

 

By AMY GAREIS      News-Herald Staff Writer

DEERSVILLE – Council members gathered during their regular session Oct. 20 to take action on the village’s oil and gas deal.

Leaders signed on the dotted line to lease mineral rights to Chesapeake Energy, which will provide $3,800 per acre plus 18 percent in royalties for nearly a dozen acres of village-owned parcels. The deal does not include streets and alleyways. Village Solicitor Jason Jackson had told council it was a general blank lease that also contained a no surface rights clause. He added that some changes were made and Chesapeake had the option for a five-year renewal. The move should generate about $45,000 per year for the parcels, plus added costs for royalties.

Read more about recent issues and happenings in and around Deersville and other area villages in this weeks print edition of the Harrison News-Herald.

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2 Comments

 
  1. Mikel
    2011-11-01
    03:17:29

    Like Alvin Slaughter sings: "HE'S Already Provided";
    it is now up to Deersville to take advantage of this opportunity! GO FOR IT! If we keep our eyes on the
    LORD and not the lions, we will make our way out of this mess that we are in!

     
  2. Joe Simpson
    2011-11-04
    15:30:34

    I hope that the drilling and chemicals they use to get the gas out of the groung does not effect either of the lakes around Deersville

     
 

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