W.Va., Noble work on deal for drilling under river
Associated Press
MOUNDSVILLE, W.Va.
West Virginia is expected to receive nearly $6 million from leasing two state-owned tracts under the Ohio River to energy companies for oil and gas drilling.
The Department of Commerce is negotiating a lease with Noble Energy for a 1,400-acre tract. Noble has agreed to pay $3,500 per acre to lease the land, Department of Commerce spokeswoman Chelsea Ruby told The Intelligencer and Wheeling News- Register.
Noble spokeswoman Stacey Brodak told the newspaper that she could not comment on the deal because it has not been finalized.
Under another deal, Gastar Exploration will pay $812,000 to lease a 232-acre tract.
The total does not include royalties from oil and gas production.
Both tracts are under the river in Marshall County.
Leasing state-owned and for the drilling technique called hydraulic fracturing, commonly called fracking, is a new venture for West Virginia.