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Belmont County approves two oil-and-gas leases with Gulfport Appalachia in Pease Township
Summary
The county signed two five-year oil-and-gas leases with Gulfport Appalachia—0.62 acres at $5,000 per acre ($3,100) and 1.0376 acres at $6,500 per acre ($6,744.40)—both with 20% royalties and unanimous commissioner approval.
The Belmont County Board of Commissioners on March 11 approved two oil-and-gas leases with Gulfport Appalachia, LLC covering small net leasehold parcels in Pease Township.
Commissioner Jerry Echemann moved and Commissioner Vince Gianangeli seconded both motions; each passed on unanimous roll calls. The first lease covers 0.62 net leasehold acres at $5,000 per net leasehold acre, for a total payment of $3,100.00, with a five-year term and a 20% royalty. The second lease covers 1.0376 net leasehold acres at $6,500 per net leasehold acre, for a total payment of $6,744.40, also a five-year term with a 20% royalty.
The minutes record the acreage, per-acre rate, total payment, term and royalty rate for each lease; the record does not include the precise parcel legal descriptions or additional lease terms beyond those summarized in the motion. Commissioners recorded unanimous approval; the minutes show the board directed the clerk to execute the appropriate documentation following the votes.
The leases were approved as presented to the board; the transcript does not record any public comment for or against the leases during the meeting.
