Pa. homeowners net $1.2M in gas-drilling royalties
Stock quotes in this article:
RRC
HARRISBURG, Pa. (AP) A leading company drilling on the Marcellus Shale natural gas formation in Pennsylvania says it handed out nearly $1.2 million in royalty checks last week.
Range Resources Corp. spokesman Matt Pitzarella said Monday the distribution is the first significant royalty the company has paid from its 120-plus Marcellus shale wells. People in the exploration industry say they haven't yet heard of such a large distribution of royalties from Marcellus shale gas wells in Pennsylvania. The money went to 31 landowners who have wells on or near their land and live near Range's gas-processing plant about 20 miles south of Pittsburgh. Pitzarella wouldn't identify them, although he says one farmer received a check for more than $357,000. The landowners were paid for production in November and December.- Loading Comments...
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