Consol To Pay Up To $1B For Pittsburgh Airport Drilling Rights

Law360, Philadelphia (February 8, 2013, 7:13 PM EST) -- Pittsburgh’s regional airport authority granted preliminary approval Friday to a contract granting Consol Energy Inc. the rights to drill for natural gas on nearly 10,000 acres in a $1 billion deal officials said could generate up to $500 million in new revenue for county government.

The Allegheny County Airport Authority signed off on the deal at a meeting Friday, county spokeswoman Amie Downs told Law360, a day after County Executive Rich Fitzgerald announced that the contract could see the government reap $450 million in royalty payments...
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