Houston-based Magnum Hunter Resources reported the purchase oan additional leasehold in Ohio's Noble County.
The company's subsidiary, Triad Hunter LLC, purchased 15,558 gross or 12,186 net acres for $24.8 million. The price per acre is $2,037.
The company said the majority of the acreage was held by production from shallower formations, but the Utica shale is what interests the firm.
The new land is close to land already held by the company in Noble and Washington counties in southeastern Ohio, That brings its total Utica shale holdings in Ohio to 23,214 gross or 17,316 acres net acres.
The company said a second purchase could close on or around April 16.
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.