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DIM PROSPECTS?

Land leases for gas drilling expiring

Glut, regulations make extensions unlikely, say owners

A 25-acre parcel of farmland alongside the Schoharie Creek, seen here beyond the fishing access site in Central Bridge, is among several parcels of land with natural gas exploration leases that are set to expire this year in Schoharie County. A flurry of leasing activity that started in 2008 has dwindled, with hundreds of acres of leases cancelled since then.
A 25-acre parcel of farmland alongside the Schoharie Creek, seen here beyond the fishing access site in Central Bridge, is among several parcels of land with natural gas exploration leases that are set to expire this year in Schoharie County. A flurry of leasing activity that started in 2008 has dwindled, with hundreds of acres of leases cancelled since then.
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When word got out that the Marcellus Shale beneath New York and other states held billions of dollars worth of natural gas, landmen inundated Schoharie County looking to secure leases on properties in anticipation of a new energy boom. By late 2008, leases for gas exploration were signed for roughly 5,700 acres of land in the towns of Sharon, Schoharie, Carlisle, Richmondville, Seward, Cobleskill, Middleburgh and Esperance in Schoharie County, the northernmost reach of the ...


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