State officials in Ohio have selected winning bids from out-of-state oil and gas companies to frack about 15,000 acres of state-owned preserved wildlife areas and state parkland in eastern Ohio. The total value of the bids is $242 million.
Fracking Expansion
The Ohio Oil and Gas Land Management Commission approved the bids from Grenadier Energy of Texas, Gulfport Energy of Oklahoma, Ascent Resources of Oklahoma, and Infinity Natural Resources of West Virginia. The companies will have access to natural gas trapped in shale thousands of feet underneath Egypt Valley and Jockey Hollow wildlife areas.
The decision allows for the expansion of Ohio’s practice of leasing out its public lands to the fracking industry. The state acquired the land at both Egypt Valley and Jockey Hollow with conservation in mind, but the Ohio Oil and Gas Land Management Commission has approved most industry requests since its establishment.
Environmentalists have expressed opposition to the projects, citing concerns about water quality, ecosystems, and public trust. The meeting where the bids were approved was marked by shouts, jeers, and heckling from a crowd of environmentalists.
The companies will pay the state between 18% and 19% of all oil and gas produced, in addition to the initial $242 million. The state requires companies to drill down vertically thousands of feet before turning laterally and reaching out several miles to extract the gas.
Original reporting: Signal Akron — read the source article.
