Trumbull landowners sign leases with BP - WFMJ.com News weather sports for Youngstown-Warren Ohio

Trumbull landowners sign leases with BP

Updated:

WARREN, Ohio - One of the largest shale-related land lease signing's is taking place here in the Valley. It's a deal involving BP North America and hundreds of local land owners.

The nearly 2,000 landowners are scheduled to sign natural gas drilling leases negotiated with BP.

They are Trumbull County members of the Associated Landowners of the Ohio Valley, a group organized by Bob Rea of Salem. With 84,000 acres, it is the largest signing by a landowners group in a single county.

"We selected BP, we think they're the best partner and best fit for Trumbull County," Rea said.

The group agreed to sign with BP for $3,900 an acre and a 17.5% production royalty.

"In the matter of 60 to 180 days they'll be receiving their checks," Rea said.

The landowners feel that joining together as group was real benefit. "I think they got a better lease, better bonus money, more bonus money," said Carl Calhoun of Warren.

Bob Kane of Johnston said, "They got with attorneys to see what was the best way to protect the water and the land, so I think it was a big help."

BP spokesperson Paula Barrett said BP is committed to the highest industry standards for environmental management.

"Part of us being here and going forward is going to be hearing those concerns and seeing what we can do to talk about how we can work through any concerns that are raised," Barrett said.

BP is investing millions in the shale boom and looking forward to a long term partnership in Ohio.

"We're in some fields where we have been there 30 to 40 years, so we've hoping this will be that same kind of agreement that same kind of project," Barrett said.

  • More NewsMore>>

  • Youngstown School's CEO selects new superintendent

    Youngstown School's CEO selects new superintendent

    Saturday, July 29 2017 6:44 AM EDT2017-07-29 10:44:24 GMT
    Joseph MerantoJoseph Meranto

    Youngstown City School District CEO Krish Mohip has selected a new superintendent for the district. Mohip tapped Joseph Meranto. Meranto was the director of Choffin Career and Technical Center for the last 13 years, as well as interim superintendent for the school since earlier this month. Meranto had replaced Stephen Stohla as the interim for Choffin.  

    More >>

    Youngstown City School District CEO Krish Mohip has selected a new superintendent for the district. Mohip tapped Joseph Meranto. Meranto was the director of Choffin Career and Technical Center for the last 13 years, as well as interim superintendent for the school since earlier this month. Meranto had replaced Stephen Stohla as the interim for Choffin.  

    More >>
  • Surcharge rate proposed for Youngstown Thermal customers

    Surcharge rate proposed for Youngstown Thermal customers

    Saturday, July 29 2017 6:33 AM EDT2017-07-29 10:33:31 GMT

    We have a clearer picture of just how much bills may be going up for businesses and other entities, including the city of Youngstown, that receive heating and cooling services from the financially unstable Youngstown Thermal.

    More >>
    There is now a clearer picture of just how much bills may be going up for businesses and other entities, including the city of Youngstown, that receive heating and cooling services from the financially unstable Youngstown Thermal. The staff of the Public Utilities Commission of Ohio recommends a monthly emergency surcharge that ranges from $100 to nearly $6,000 for customers. The report states that the surcharge is needed to cover payroll and health care expenses. The proposal...More >>
  • Trump pushes out Priebus, names Kelly WH chief of staff

    Trump pushes out Priebus, names Kelly WH chief of staff

    Saturday, July 29 2017 3:05 AM EDT2017-07-29 07:05:11 GMT
    President Donald Trump says Gen. John F. Kelly is his new White House chief of staff. That means Reince Priebus is out.More >>
    President Donald Trump says Gen. John F. Kelly is his new White House chief of staff. That means Reince Priebus is out.More >>
Powered by Frankly
All content © Copyright 2000 - 2017 WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms