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Belmont County

Belmont County

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Belmont County Commissioners receive another big check

Updated: Wednesday, June 11 2014, 01:28 PM EDT
BELMONT COUNTY, Ohio -- Belmont County commissioners signed another deal for big dollars with Rice Energy on Thursday morning, noting the Canonsburg, Pa.,-based company is quickly becoming a neighbor and corporate resident in the county.
The lease agreement is for 424 acres at $8,200 per acre with 20 percent royalties -- just shy of 3.5-million. It's another major financial move for Belmont County Commissioners, who were presented with a $3 million from the same corporation on April 2.
For this latest endeavor, Rice came through yet again.
"We did put that out to all companies,” Belmont County Commissioner Matt Coffland said. “Our first round we had maybe three interested parties. Rice came in with the best offer."
Commissioners also noted a "good communication" between their board and Rice Energy, as this lease not only benefits both of those parties but nearly 70,000 Belmont County residents.
Rice Energy President and Chief Operating Officer Toby Rice said Belmont is one of the most actively drilled counties.   

Belmont County Commissioners receive another big check

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