Marcellus shale lease agreement announced for 21,000 acres in Pa.
Drilling Activity Details
Locations
Greene
PA
United States
Operators
Plays
Post Date
Well Name
n/a
Geo Coordinate
Drilling Activity Summary
Description
South Jersey Industries (SJI) and Potato Creek LLC have entered into a lease agreement to develop deep mineral rights on more than 21,000 acres of property in the Marcellus shale in western Pennsylvania. SJI has a wholly owned subsidiary that is a minority partner in Potato Creek. The latter firm received an up-front lease payment and will also retain royalty and working-interest rights. SJI, located in Folsom, N.J., is an energy services holding company for utility and nonregulated businesses.
Description
South Jersey Industries (SJI) and Potato Creek LLC have entered into a lease agreement to develop deep mineral rights on more than 21,000 acres of property in the Marcellus shale in western Pennsylvania. SJI has a wholly owned subsidiary that is a minority partner in Potato Creek. The latter firm received an up-front lease payment and will also retain royalty and working-interest rights. SJI, located in Folsom, N.J., is an energy services holding company for utility and nonregulated businesses.