The city of Salem has agreed to sign a lease with Chesapeake Energy Corp. for 381 acres of city-owned land.
The deal calls for a signing bonus of $3,500 an acre and 20 percent royalties on any production with an additional $3,500 per acre for a three-year extension.
If the extension is exercised, the agreement would total $7,000 an acre for a six-year lease. That would be one of the highest prices paid in eastern Ohio's Utica shale.
Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.
Rig Count Interactive Map by Baker Hughes, an energy services company.
Shale Sheet Fracking, a Youngstown Vindicator blog.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
Earthjustice, a national eco-group.
People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.
Concerned Citizens of Medina County, a grass-roots group.
No Frack Ohio, a Columbus-based grass-roots group.
Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.
Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.