Consol wraps drilling deal at Pittsburgh airport - 21 News Now, More Local News for Youngstown, Ohio -

Consol wraps drilling deal at Pittsburgh airport

Posted: Updated:

PITTSBURGH (AP) - Consol Energy Inc. has completed a deal to drill for natural gas and oil at Pittsburgh International Airport.

The Pittsburgh Tribune-Review reports that Consol wired a $46.3 million signing bonus to the Allegheny County Airport Authority on Friday.

Allegheny County Council had approved the contract earlier in the week.

Under the deal, Consol will pay 18% royalties on future production, expected to total $450 million over two decades. The first wells are scheduled to be drilled in late 2014 or early 2015.

The airport says it will use the money to lower airline costs in hopes of attracting more flights, and for capital improvements.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • SpotlightSpotlightMore>>

  • Updated

    The Scrappers host “POPS at the Ballpark” featuring the Youngstown Symphony Orchestra

    The Scrappers host “POPS at the Ballpark” featuring the Youngstown Symphony Orchestra

    Tuesday, April 15 2014 2:04 PM EDT2014-04-15 18:04:57 GMT
    NILES, Ohio – The Mahoning Valley Scrappers and the Youngstown Symphony Orchestra are excited to host one of the Valley's premiere summer events, POPS at the Ballpark,More >>
    NILES, Ohio – The Mahoning Valley Scrappers and the Youngstown Symphony Orchestra are excited to host one of the Valley's premiere summer events, POPS at the Ballpark, presented by Stanley E. Shearer with Northwestern Mutual and 21 WFMJ on Saturday, August 23, 2014 at Eastwood Field.More >>
  • Around the WebMore>>

  • 2 boaters found dead in Lake Erie; 2 more missing

    2 boaters found dead in Lake Erie; 2 more missing

    Thursday, April 17 2014 3:49 PM EDT2014-04-17 19:49:32 GMT
    TOLEDO, Ohio (AP) - Authorities say the bodies of two of four missing boaters in western Lake Erie have been recovered off the Ohio shoreline. Officials say they recovered the bodies of two females Thursday.More >>
    TOLEDO, Ohio (AP) - Authorities say the bodies of two of four missing boaters in western Lake Erie have been recovered off the Ohio shoreline. Officials say they recovered the bodies of two females Thursday.More >>
  • Boston Marathon organizers confident of safe race

    Boston Marathon organizers confident of safe race

    Police stepped up patrols near the Boston Marathon finish line after a masked man walked in the street with a rice cooker in his backpack only hours after the city marked the anniversary of last year's deadly...More >>
    The arrest of a man with a rice cooker in his backpack near the Boston Marathon finish line led police to step up patrols Wednesday, while organizers sought to assure the city and runners of a safe race next week.More >>
  • Low of 19 degrees in Toledo breaks 139-year record

    Low of 19 degrees in Toledo breaks 139-year record

    Wednesday, April 16 2014 6:34 PM EDT2014-04-16 22:34:39 GMT
    TOLEDO, Ohio (AP) - Winter temperatures are refusing to go away in northwestern Ohio. The thermometer dropped to 19 degrees in Toledo Wednesday morning, breaking a 139-year-old record for the same dateMore >>
    TOLEDO, Ohio (AP) - Winter temperatures are refusing to go away in northwestern Ohio. The thermometer dropped to 19 degrees in Toledo Wednesday morning, breaking a 139-year-old record for the same dateMore >>
Powered by WorldNow
All content © Copyright 2000 - 2014 Worldnow and WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms