Schools
In Brief: Canon-McMillan Signs Lease With Range Resources
Directors approved the agreement last week.
school directors last week unanimously approved a five-year lease with Southpointe-based Range Resources for non-surface Marcellus Shale drilling on district property.
The lease of more than 16.8 acres of property represents 25 parcels—which includes all district buildings and all of its fields.
The lease agreement calls for a $2,900-per-acre up-front payment, as well as a 16.75 percent royalty on any gas extracted.
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