W.Va. mineral owners group to receive more than $100M from gas drilling lease agreements

A group of West Virginia mineral owners will receive more than $100 million from lease agreements with a gas drilling company.

A lawyer representing the Marshall and Ohio County Landgroup says the mineral owners could receive more money from Tug Hill Operating in the future from production royalties.

Lawyer Jonathan Turak tells The Intelligencer and Wheeling News-Register (http://bit.ly/11aTPhO) that the mineral owners maximized their bargaining leverage by joining together.

Details of the deal won't be released because of a confidentiality agreement, including how many mineral owners are in the group and how much acreage is involved.

Tug Hill declined to comment on the deal.


Information from: The Intelligencer, http://www.theintelligencer.net