DCNR to Lease 32,000 Acres to Gas Drilling Companies
January 15, 2010
DCNR gas lease bids, involving 32,000 acres on six land tracts in Moshannon, Sproul, Elk, Susquehannock and Tioga state forests, have been opened and the reslt is $128 million for the cash-strapped state.
Five firms were the top bidders:
Tract 001 Seneca Resources Corporation $23,253,125.00
Tract 007 Seneca Resources Corporation $48,530,125.00
Tract 323 EXCO Resources (PA), Inc. $24,354,750.00
Tract 416 Penn Virginia Oil&Gas Corp $13,867,500.00
Tract 419 Chesapeake Appalachia, LLC $7,194,024.00
Tract 737 Anadarko E&P $11,198,364.00
