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WKSU Classical Channel
Classical Music With Gillian Martin
10:44
Ralph Vaughan Williams: Phantasy Quintet (Nash Ensemble)
11:01
Anonymous: Flowers of the Forest (Baltimore Consort)
11:06
John Stanley: Concerto Grosso No. 1 (Collegium Musicum 90)
11:17
George Gershwin: Lullaby (Cincinnati Pops)
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Environment Wednesday, August 22, 2012 Chesapeake mum on land sale Sale for 340,000 acres in eastern Ohio ends Friday by WKSU's SIMON HUSTED | Reporter Simon Husted | | |
In The Region: No one is saying yet who is buying the drilling rights to nearly 340,000 acres of eastern Ohio.
Chesapeake Energy put a quarter of its holdings in Ohio up for sale this spring, and the bid deadline was last Friday. Chesapeake Energy has not yet announced how much the property is sold for, and who’s buying it.
Mark Hanson is an energy analyst at Morningstar investment research and says the parties may still be negotiating a price. Hanson estimates the value of the leases is between 1.5 to 2 billion dollars. But he notes that few oil and gas wells have been drilled in the region yet, and that may depress the price. |
“I would expect things to be forthcoming here shortly,” Hanson says. “And again, my guess is based on the company’s track record, based on their motivation and also on the apparent attractiveness on the acreage that a deal will get done. The price is the real wildcard.”
Chesapeake says it has nothing to report at this time about the sales.
The properties are scattered across 19 eastern Ohio counties, including in Summit, Portage, Lorain and Trumbull counties. |
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