facebooktwitterRSS
- Advertisement -
  • Most Commentedmost commented up
  • Most Emailedmost emailed up
  • Popularmost popular up
- Advertisement -
 

« News Home

Pittsburgh airport OK's $500M gas-drilling deal



Published: Fri, February 8, 2013 @ 3:15 p.m.

PITTSBURGH (AP) — The Allegheny County Airport Authority has approved a $500 million deal with Consol Energy for rights to drill for natural gas and oil at Pittsburgh International Airport.

The authority board approved the deal today.

Consol in December initially bid $20.8 million for drilling rights, which will include ongoing 18 percent royalties.

County officials say the energy firm later agreed to increase its initial payment to $50 million and the royalties are expected to bring in $450 million more over the next 20 years. Consol is expected to drill at least 50 wells over 9,000 acres.

Airport officials want to use at least some of the revenue to lower gate fees in hopes of attracting more flights to the airport about 10 miles west of the city.


Comments

Use the comment form below to begin a discussion about this content.


News
Opinion
Entertainment
Sports
Marketplace
Classifieds
Records
Discussions
Community
Help
Forms
Neighbors

HomeTerms of UsePrivacy StatementAdvertiseStaff DirectoryHelp
© 2014 Vindy.com. All rights reserved. A service of The Vindicator.
107 Vindicator Square. Youngstown, OH 44503

Phone Main: 330.747.1471 • Interactive Advertising: 330.740.2955 • Classified Advertising: 330.746.6565
Sponsored Links: Vindy Wheels | Vindy Jobs | Vindy Homes