Statoil agrees on payment to drill under the Ohio River

Norway-based Statoil has agreed to pay an average price of $8,732 per acre to drill on 474 acres of state-owned land under the Ohio River in West Virginia’s Marshall and Wetzel counties, reports the Intelligencer/News-Register in Wheeling. The newspaper says the state of West Virginia will also receive 20 percent production royalties from natural gas drilling under the river. In addition, a spokeswoman for the West Virginia Department of Commerce told the newspaper that the state is still finalizing drilling agreements with Gastar Exploration and Noble Energy. For more, read the full story. Click here to read our August 27, 2014 blog, “West Virginia seeks bids for shale gas drilling below the Ohio River”

West Virginia