BP Confirms Deal For Drilling Rights To 84,000 Acres In Ohio

The deal between BP and members of the Associated Landowners of the Ohio Valley will reportedly send landowners $3,900 per acre for mineral rights.(Photo: Associated Landowners of the Ohio Valley)
The deal between BP and members of the Associated Landowners of the Ohio Valley will reportedly send landowners $3,900 per acre for mineral rights.(Photo: Associated Landowners of the Ohio Valley)

Oil giant BP is the latest company to announce it will lease oil and natural gas drilling rights in Ohio’s Utica Shale region.

The company says it’s reached an agreement to obtain mineral rights for 84,000 acres in northeast Ohio’s Trumbull county. The lease was voted on by more than 1,000 members of the Associated Landowners of the Ohio Valley last night in the Youngstown Area.

Landowners will receive $3,900 per acre in up-front bonus payments…the deal is expected to send more than $331 million into the local economy.

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