Westminster May Join Trend Of Leasing Land For Natural Gas Rights

Thursday, November 1, 2012

Westminster College may lease natural gas rights for 340 acres of school-owned land, officials confirmed Tuesday.

The college stands to gain $1 million upfront for signing the leases, in addition to royalty payments from drilling, which vary from 15 percent to 18 percent, officials said.

The college’s board is expected to meet in a closed session Saturday to discuss the issue.

“They are exploring the option,” said Mark Meighen, senior director of marketing and communications services at Westminster. “But no decision has been made as of yet, and I can’t guarantee they will make a decision at that time.”

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