May 12th, 2010
From The Associated Press:
HARRISBURG, Pa. — Gov. Ed Rendell said Tuesday that he would sign a bill calling for a temporary halt in new leasing of state forest lands for natural-gas exploration if it reaches his desk.
Rendell took a stand on the legislation after announcing a $120 million deal giving Houston-based Anadarko Petroleum Corp. the right to drill on 33,000 acres in northcentral Pennsylvania — mostly land surrounded by leased tracts that already are being used for gas operations — that lies over the Marcellus Shale formation.
The Anadarko payment and the expected carry-over of $68 million in lease revenue from the fiscal year that ends June 30 will surpass state officials’ target of $180 million in drilling revenue to help balance the 2010-11 state budget, Rendell said.
Leave a Comment