IMPERIAL, Pa. (AP) - The Allegheny County Airport Authority will negotiate with Consol Energy for rights to drill for natural gas and oil at Pittsburgh International Airport even though a competitor's bid appeared to be twice as large.
The authority last week said EQT Corp. bid roughly $44 million while Consol bid $20.8 million - but also included a $2.1 million check as a deposit. Both bids also include ongoing 18% royalties once drilling begins.
Executive director Bradley Penrod said the authority board approved Consol's bid as the "best value" after a "very, very careful review" at a meeting Friday. But Penrod wouldn't say at the meeting if the lack of a deposit hurt EQT's bid or what other factors made Consol's bid better.
Authority spokeswoman JoAnn Jenny referred messages requesting an additional explanation to Penrod, who did not immediately respond.
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