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The Department of Conservation and Natural Resources published notice it has signed an amended lease with Chevron Appalachia, LLC covering 235.6 additional acres of submerged lands for oil and gas development under streambeds in Luzerne and Nicholson townships in Fayette County and Cumberland and Monongahela townships, Greene County. (Dec. 7 PA Bulletin)
The total lease now covers 1,264.3 acres. The original 1,028.4 acres of the lease resulted in Chevron paying DCNR a bonus payment of $4,113,600..
The additional 235.6 acres will result in Chevron paying DCNR a bonus payment of $943,600,
Click Here for a copy of the lease amendment.
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[Posted: December 6, 2019]
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