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5 companies share high bids for Pa. gas drilling
HARRISBURG, Pa. (AP) _ Five out-of-state companies are the high bidders for the right to drill for natural gas on more than 74,000 acres in Pennsylvania's state forests.
The high bidders were among 17 companies that competed for the drilling rights over a potentially lucrative natural-gas formation known the Marcellus Shale. The 18 tracts that were put out to bid by the state forestry agency are located in Tioga and Lycoming counties in north-central Pennsylvania.
All together, the high bids total about $190 million.
Three of the companies are from Texas and two are from New York.
Copyright 2008 The Associated Press.
FEEDBACK -READER COMMENTS (2 of 5) MORE>>
Josef
September 10, 2008 at 4:09 PM
Comment on Article
Where will this money be used? We were promised tax releif from the Casino...
Steve
September 10, 2008 at 9:47 PM
Comment on Article
Will taxpayers be enjoying this new-found wealth, or will Harrisburg be enjoying yet another slush fund?
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