CCCTC enters oil and gas lease for over 52 acres
LISBON — The Columbiana County Career and Technical Center has entered into an oil and gas lease for 52.77 acres of district-owned land. During the May board of education meeting the board approved leasing the land to Hilcorp Utica, LLC of Houston, Texas, for $26,387. The five-year lease translates to roughly $500 per acre in revenue for the district. Additionally, the lease includes a 17 percent royalty to be paid to the district by Hilcorp for any oil and gas produced. The acreage consists of 10 parcels in Center Township and the lease allows for the drilling—horizontally, ...