The Department of Conservation and Natural Resources published notice in the March 24 PA Bulletin of a September 2017 lease with the EQT gas drilling company covering an additional 392 acres of submerged lands under the Monongahela River in Allegheny, Greene, Fayette, Washington and Westmoreland counties.

EQT paid DCNR $1.568 million dollars for the lease of the additional acreage, plus a 20 percent royalty on natural gas produced through the wells drilled under the river.  The lease stipulates EQT cannot deduct post-production costs from the royalty.

DCNR was paid $2.212 million for the original acreage leased under the Monongahela River.

Click Here for a copy of the lease.

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[Posted: March 23, 2018]

3/26/2018