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Local landowners may profit from underground gas
|"Royalties are likely to be substantially greater than upfront checks" for leasing the mineral rights, said Thomas Murphy, of the Penn State Cooperative Extension Service in Williamsport, Lycoming County.|
The price of natural gas leases have jumped 1,900 percent in just about two years -- from about $15 an acre in 2006 to $300 an acre in February 2008, Murphy said. The it took another big leap in March, rising from $300 to $1,500 an acre, Murphy said.
"It's on a pace to reach $2,500 to $3,000 an acre in Clearfield County," Murphy said.
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