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Dayton
Business Journal...
BP
in $330M
deal for drilling in Ohio
Wednesday,
March 28, 2012
British oil
giant BP plc has stepped into Ohio’s shale play for the first time,
securing an
agreement to lease about 84,000 acres of land in northeast Ohio.
The deal
represents BP’s first exploration and production position in the
state’s shale
formation, spokesman Daren Beaudo said. The London-based oil and gas
company is
not commenting on the cost of the leases, but the Vindicator has pegged
the
Trumbull County land deal at $331 million, based on a $3,900-an-acre
up-front
bonus payment.
BP has
signed an agreement with the Associated Landowners of the Ohio Valley,
which
represents the northeast Ohio landowners who approved the accord
Monday,
according to a press release.
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