Port Pays Company for Lease

POSTED BY: Nichole Hannahs
Wednesday, June 16, 2010 - 11:57 AM
Port Pays Lease

The Port Authority clears up a hitch with the Job Ready Site at Wednesday's meeting.

The Zanesville-Muskingum Port Authority Board has agreed to pay $36,000 in order to clear up an oil and gas lease on 100 acres of the Job Ready Site in the Eastpointe Business Park.

"This is something we've been trying to do for two years," said Mike Jacoby Port Authority Executive Director. "But there's been a change in ownership at the company and Range Resources was bought out by Innervest and it's taken awhile to get to the right people at Innervest."

Not having the rights could have created issues for the job ready site.

"When you don't have the lease to the property someone has the rights to drill, put a well in the middle of your site," explained Jacoby. "And then you can't convey basically a completely usable piece of property. And that would have posed lots of problems."

Now that the oil and gas lease is cleared the port can focus on finishing up other projects to the site such as a sewer slip repair and wetland restorations.


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