BP Deal for Drilling Rights on 84,000 Acres in Northeastern Ohio

 In Ohio

This is British Petroleum’s first deal in oil and gas-rich shale in Northeast Ohio. The deal is reported to be worth $331,000,000 based on a $3,900 per acres upfront bonus payment.  It’s estimated that it will take another six months getting lease signatures from individual landowners in the area before work can begin.

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