KarlMarx
07-10-2010, 08:30 PM
Broome County considers $15.9 million deal for gas-drilling rights
Broome County could get $15.9 million in a deal to lease drilling rights on county-owned land to tap natural gas in the Marcellus Shale.
Inflection Energy LLC of Denver would pay $3,000 an acre for 5,300 acres of property at the county landfill, the Greater Binghamton Airport and other county properties for drilling rights over five years, said Mark S. Sexton, Inflection's chairman and chief executive officer.
The county also would get 20 percent royalties once gas production begins....
remainder of story at
http://www.pressconnects.com/article/20100707/NEWS01/7070394/Broome+County+considers++15.9+million+deal+for+gas-drilling+rights
Hopefully, the local government will put the money to good use, e.g. paying for infrastructure improvements, etc.
Regardless, this is one of the few good news stories coming out of my area. Furthermore, no "stimulus" or help from the government was involved.
Broome County could get $15.9 million in a deal to lease drilling rights on county-owned land to tap natural gas in the Marcellus Shale.
Inflection Energy LLC of Denver would pay $3,000 an acre for 5,300 acres of property at the county landfill, the Greater Binghamton Airport and other county properties for drilling rights over five years, said Mark S. Sexton, Inflection's chairman and chief executive officer.
The county also would get 20 percent royalties once gas production begins....
remainder of story at
http://www.pressconnects.com/article/20100707/NEWS01/7070394/Broome+County+considers++15.9+million+deal+for+gas-drilling+rights
Hopefully, the local government will put the money to good use, e.g. paying for infrastructure improvements, etc.
Regardless, this is one of the few good news stories coming out of my area. Furthermore, no "stimulus" or help from the government was involved.