Energy Co Buys Acres Of Mineral Rights In W.Va.

By: Associated Press Email
By: Associated Press Email

CHARLESTON, W.Va. (AP) - An Idaho energy company has acquired more than 43,000 acres of subsurface mineral rights in West Virginia.

Blaze Energy says the coal, coal-bed methane and other mineral rights are in addition to a gas lease with Consol Energy's subsidiary CNX Gas Co.

The company says the transaction for both the mineral rights and the associated gas lease with CNX was valued at more than $51 million.

Blaze Energy says a report compiled in 2010 says the mineral rights were valued at $130 million. It is in the process of updating the figures to account for current market conditions.

The company did not return a telephone message to The Associated Press seeking specifics on the deal.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


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