Post by crazyhorservn on Jun 26, 2012 15:30:39 GMT -4
Well, it seems the PGC's ship has come in. It appears that this is just the begining of the windfall for the PGC.
Wouldn't it be great if they used this money and future monies to vastly improve the habitat to support game?
Wouldn't it be wonderful if they used this money to make all youth licenses FREE?
OIL AND GAS DEVELOPMENT AGREEMENTS TO BENEFIT WILDLIFE >
The Pennsylvania Board of Game Commissioners today approved three oil and gas development agreements that will provide much-needed revenue for the Game Commission to either deposit into the Game Fund or an interest-bearing escrow account for the future purchase of wildlife habitats, lands or other uses incidental to hunting, furtaking and wildlife resource management.
The first item, which is an amendment to a previous oil and gas agreement involving a 1,930-acre portion of State Game Land (SGL) 268 in Morris Township, Tioga County, allows Endless Mountain Energy to include an additional 413.3 acres for non-surface use and will not require any additional surface impacts.
The terms of the amendment will remain consistent with the existing agreement, which was approved by the Board in April of 2011, which includes a paid up, five-year, oil and gas agreement, a $3,500 per acre bonus payment, $25 per acre rental, and a 20 percent royalty. The total bonus payment will be approximately $1,446,550 and will be deposited into the Game Fund or an interest bearing escrow account for the future purchase of wildlife habitats, lands, or other uses incidental to hunting, furtaking and wildlife resource management.
The second item involves the oil and gas rights owned by the Game Commission under a 3,710.33-acre portion of SGL 36 in Albany and Monroe townships, Bradford County, and is with Chesapeake Appalachia, L.L.C. of Oklahoma City, Oklahoma. The terms of the agreement are a paid up, five-year, restricted surface use oil and gas agreement, a $2,000 per acre bonus payment and a 20 percent royalty.
Chesapeake Appalachia already has a strong lease position surrounding this portion of SGL 36, and has initiated well drilling and development programs on adjacent private lands. Chesapeake Appalachia has the ability to unitize the Game Commission’s oil and gas reserve by horizontal drilling from adjacent private lease holdings with no disturbance to the surface of SGL 36.
“As this oil and gas development agreement will not involve any surface impacts on SGL 36, the Game Commission staff focused on negotiating with Chesapeake Appalachia to safeguard the prudent development of the agency’s oil and gas reserve and simultaneously protect the wildlife resources and recreational use of SGL 36,” said Bill Capouillez, Game Commission Bureau of Wildlife Habitat Management director.”
The bonus payment of $7,420,660 will be deposited into the agency’s Game Fund or an interest bearing escrow account for the future purchase of wildlife habitats, lands, or other uses incidental to hunting, furtaking and wildlife resource management. Future rentals and royalties will be deposited into the Game Fund.
The third item, which was announced for competitive bid in May, involves the oil and gas rights owned by the Game Commission under a 3,177.7-acre portion of SGL 36 in Monroe and Overton townships, Bradford County, and also is with Chesapeake Appalachia.
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The lease agreement includes a one-time bonus/rental payment of $2,000 per acre for a five-year, paid up, primary term, and a 25.5 percent royalty. Additionally, the bid provides the Game Commission a well pad location fee of $250,000 per well pad, if well pads are necessary on the surface of SGL 36. The agreement also restricts surface use to a 260-acre area, and a limit of two well pads for development. The agreement will include a free gas provision for the Game Commission to use free-of-charge up to 350,000 cubic feet of gas annually or an annual payment for non-use of the free gas.
Oil and gas development include a $50,000 performance bond. The agreement will include the Commission’s standard wildlife and environmental protection measures.
The bonus payment of $6,355,400 will be deposited into the agency’s Game Fund or an interest-bearing escrow account for the future purchase of wildlife habitats, lands, or other uses incidental to hunting, furtaking and wildlife resource management.
On all three agreements, oil and gas development will be regulated by the Department of Environmental Protection’s oil and gas regulations, and the Game Commission’s standard oil and gas development cooperative agreement and standard wildlife and environmental protection measures.
“The bottom line is that both agreements involving SGL 36 effectively maximize the agency’s ability to allow for prudent oil and gas development by leasing 10.7 square miles (or 6,888 acres) of SGL 36, while simultaneously drastically reducing the overall needed use of that entire surface acreage down to a mere estimated 26 acres total,” Capouillez said. “The initial revenues and future royalties will directly benefit hunters and trappers and wildlife in years to come as we continue to target key land acquisitions for our State Game Lands, and provide a much-needed source of funding to further our agency’s wildlife resource program initiatives.”
Wouldn't it be great if they used this money and future monies to vastly improve the habitat to support game?
Wouldn't it be wonderful if they used this money to make all youth licenses FREE?
OIL AND GAS DEVELOPMENT AGREEMENTS TO BENEFIT WILDLIFE >
The Pennsylvania Board of Game Commissioners today approved three oil and gas development agreements that will provide much-needed revenue for the Game Commission to either deposit into the Game Fund or an interest-bearing escrow account for the future purchase of wildlife habitats, lands or other uses incidental to hunting, furtaking and wildlife resource management.
The first item, which is an amendment to a previous oil and gas agreement involving a 1,930-acre portion of State Game Land (SGL) 268 in Morris Township, Tioga County, allows Endless Mountain Energy to include an additional 413.3 acres for non-surface use and will not require any additional surface impacts.
The terms of the amendment will remain consistent with the existing agreement, which was approved by the Board in April of 2011, which includes a paid up, five-year, oil and gas agreement, a $3,500 per acre bonus payment, $25 per acre rental, and a 20 percent royalty. The total bonus payment will be approximately $1,446,550 and will be deposited into the Game Fund or an interest bearing escrow account for the future purchase of wildlife habitats, lands, or other uses incidental to hunting, furtaking and wildlife resource management.
The second item involves the oil and gas rights owned by the Game Commission under a 3,710.33-acre portion of SGL 36 in Albany and Monroe townships, Bradford County, and is with Chesapeake Appalachia, L.L.C. of Oklahoma City, Oklahoma. The terms of the agreement are a paid up, five-year, restricted surface use oil and gas agreement, a $2,000 per acre bonus payment and a 20 percent royalty.
Chesapeake Appalachia already has a strong lease position surrounding this portion of SGL 36, and has initiated well drilling and development programs on adjacent private lands. Chesapeake Appalachia has the ability to unitize the Game Commission’s oil and gas reserve by horizontal drilling from adjacent private lease holdings with no disturbance to the surface of SGL 36.
“As this oil and gas development agreement will not involve any surface impacts on SGL 36, the Game Commission staff focused on negotiating with Chesapeake Appalachia to safeguard the prudent development of the agency’s oil and gas reserve and simultaneously protect the wildlife resources and recreational use of SGL 36,” said Bill Capouillez, Game Commission Bureau of Wildlife Habitat Management director.”
The bonus payment of $7,420,660 will be deposited into the agency’s Game Fund or an interest bearing escrow account for the future purchase of wildlife habitats, lands, or other uses incidental to hunting, furtaking and wildlife resource management. Future rentals and royalties will be deposited into the Game Fund.
The third item, which was announced for competitive bid in May, involves the oil and gas rights owned by the Game Commission under a 3,177.7-acre portion of SGL 36 in Monroe and Overton townships, Bradford County, and also is with Chesapeake Appalachia.
>
The lease agreement includes a one-time bonus/rental payment of $2,000 per acre for a five-year, paid up, primary term, and a 25.5 percent royalty. Additionally, the bid provides the Game Commission a well pad location fee of $250,000 per well pad, if well pads are necessary on the surface of SGL 36. The agreement also restricts surface use to a 260-acre area, and a limit of two well pads for development. The agreement will include a free gas provision for the Game Commission to use free-of-charge up to 350,000 cubic feet of gas annually or an annual payment for non-use of the free gas.
Oil and gas development include a $50,000 performance bond. The agreement will include the Commission’s standard wildlife and environmental protection measures.
The bonus payment of $6,355,400 will be deposited into the agency’s Game Fund or an interest-bearing escrow account for the future purchase of wildlife habitats, lands, or other uses incidental to hunting, furtaking and wildlife resource management.
On all three agreements, oil and gas development will be regulated by the Department of Environmental Protection’s oil and gas regulations, and the Game Commission’s standard oil and gas development cooperative agreement and standard wildlife and environmental protection measures.
“The bottom line is that both agreements involving SGL 36 effectively maximize the agency’s ability to allow for prudent oil and gas development by leasing 10.7 square miles (or 6,888 acres) of SGL 36, while simultaneously drastically reducing the overall needed use of that entire surface acreage down to a mere estimated 26 acres total,” Capouillez said. “The initial revenues and future royalties will directly benefit hunters and trappers and wildlife in years to come as we continue to target key land acquisitions for our State Game Lands, and provide a much-needed source of funding to further our agency’s wildlife resource program initiatives.”