The state of West Virginia opened up a 14-mile portion of the Ohio River prospective for the Marcellus to bids from oil and gas companies, and received bids for three of the four segments. Noble Energy bid a 20% royalty payment plus $211.11/acre while Statoil extended an offer with the same royalty and an $8,125/ acre cash bonus. Magnum Hunter sub Triad Hunter bid an 18% royalty and $7,100/acre bonus. Gastar Exploration bid $3,500/acre......
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