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Windsor group finalizes huge gas lease deal
|After a brief hiccup, a group of 40 Windsor landowners and a Denver-based energy company have finalized the area's largest gas lease deal in more than a year.|
The $8.25 million lease agreement for drilling rights on 3,000 acres of land was struck in January, but became snared when Inflection Energy asked an Albany-based lawyer to review the legal documents before the company signed off on them.
After the details were ironed out, the basic terms of the deal remain the same: Landowners will net $2,750 per acre in bonus payments, and an 18 percent royalty payment on any natural gas extracted from their land.
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