Antero Resources has recently reached an agreement with Ohio landowners to pay $112 million to lease 19,000 acres of Utica shale. This amounts to roughly $5,900 per acre, the highest yet paid in eastern Ohio, according to this article. For more details, read on.
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Denver firm makes Utica purchase
HERALD-STAR
By Casey Junkins
Monday, February 13, 2012
LEWISVILLE – Denver-based Antero Resources will pay roughly $112 million to lease about 19,000 Ohio Utica shale acres in Belmont, Monroe and Noble counties.
“I would never have imagined I would see rates like this being paid in Eastern Ohio,” said Ed Sustersic, a representative of the Utica Landowners Group, which organized the deal involving about 270 property owners. “We feel this is a good deal for the landowners.”
A practicing Belmont County attorney, Sustersic is joined in the landowners’ group by fellow organizers Chuck Bell and Bruce Seabright. Sustersic said the final financial terms of $5,900 per acre with 21 percent on royalties are, to his knowledge, the highest yet paid in Eastern Ohio.
In September, the Utica Landowners Group arranged the signing of 26,000 Belmont County acres to Exxon Mobil subsidiary XTO Energy at a price of $4,950 per acre with 19 percent royalties.
Did Hillcorp not pay individuals $6000 per acre in Carroll county? Nothing of this size of couse, but technically the new standard.
John – thanks for your comment. I appreciate what you’ve added to this discussion. I am not aware of the Carroll County matter, but perhaps others are.