Energy Companies Continue Eyeing Lands Just South Of Chenango
Published: October 20th, 2009
By: Melissa deCordova

NORWICH – Those following the natural gas industry here opened their eyes wide on Sunday and looked just over the border into Broome County and on into Susquehanna County, where at least one multi-national energy company made a confirmed offer to pay landowners $5,750 an acre to lease their land for natural gas drilling.

The information was reported in an e-mail to members of the Central New York Land Coalition Monday morning. The price is a far cry from the high offers of $200 per acre made just over two years ago.

Chesapeake is rumored to be offering $5,750 to landowners in the Broome County towns of Colesville and Fenton, and Cabot Oil & Gas Corporation made an official offer for the same amount to lease more than 6,500 acres in a dozen townships in Susquehanna County.

Cabot’s offer also included 21 percent in royalties from production to landowners who agree to lease. That amount, according to Charles Rowe of the local land group coalition, would be a record so far.

“We hope (these offers) keep creeping this way. Once they get the leases done down that way, they are going to be coming north,” Rowe, who is a member of the coalition’s steering committee, said.

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