BINGHAMTON, N.Y. (AP) – Members of a Broome County landowners’ coalition are getting a huge payout on their gas leases this month.
The Binghamton Press and Sun-Bulletin reports (http://press.sn/zLaxHe ) that the landowners are among 600 in the Friendsville Group, which received a $165 million gas lease offer from Talisman Energy in September 2009.
Most of the landowners are in Pennsylvania. They received $5,500 per acre when the leases were signed. But with gas drilling on hold in New York since 2008, the New York landowners got $500 per acre. The other $5,000 was due when there were drilling permits, or January 2012. Landowners get 20 percent royalties on producing wells.
Christy Everitt, a coalition member with 117 acres in the town of Vestal, estimates 40 percent of the payments will be taken as taxes.