DCNR Signs Oil & Gas Lease Agreement For 198.5 Acres Of Publicly-Owned Streambeds In Wyoming County For $794,000 + Royalties

The Department of Conservation and Natural Resources published notice in the November 20 PA Bulletin it has signed an oil and gas lease agreement with BKV Operating, LLC covering 198.5 acres of publicly-owned Susquehanna River streambeds in Mehoopany and Washington Townships, Wyoming County.

The lease requires an upfront payment of $794,000 for the five year lease and specifies natural gas royalties to be paid to DCNR.

The lease also requires BKV Operating, LLC to have pollution liability insurance in effect during the term of the lease to protect the Commonwealth with claims of environmental impairment and pollution.

The amount of the policy is $1 million per occurrence and $2 million in the aggregate.

Click Here for a copy of the lease.

Visit DCNR’s Natural Gas Management webpage to learn more about the agency’s oversight of natural gas drilling on public lands the agency owns.

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[Posted: November 19, 2021]   PA Environment Digest