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Belmont County approves 102.845‑acre oil and gas lease with Ascent Resources for $771,337.50
Summary
The Belmont County Board of Commissioners on April 8 approved an oil and gas lease with Ascent Resources – Utica, LLC for 102.845 net leasehold acres in Richland Township at $7,500 per acre, a five‑year term and 20% royalty, for a total payment of $771,337.50.
The Belmont County Board of Commissioners voted April 8 to enter into an oil and gas lease with Ascent Resources – Utica, LLC covering 102.845 net leasehold acres in Richland Township. The lease pays $7,500 per net leasehold acre, carries a five‑year primary term and specifies a 20 percent royalty; the board recorded a total payment…
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