NOTICE OF PUBLIC HEARING AND
AUCTION
Now comes the City of Benwood and makes known its intention to lease the oil and gas within and under certain property owned by the City of Benwood shown on the records of the Marshall County Sheriff’s Tax Office in Union District on Map 6 as Parcel 5, at public auction on the 25th day of June 2024 at 6:45 p.m. and to hear public comment at a public hearing at said time regarding execution of an oil and gas lease for the same.
Bids to lease the oil and gas shall at the minimum contain the following:
A bonus of not less than $4,500.00 per acre for the Marcellus Shale formation only;
A royalty of not less than 18% without deduction of any costs and expenses;
There shall be no right to use the surface of the property without a separate written agreement;
The lease will contain no warranty the City of Benwood owns the aforesaid oil and gas.
Bids may be submitted in person at the public auction or via email sent and received prior to the auction. Should parties desiring to bid intend to submit their bid via email they should contact the City Clerk’s Office to obtain the correct email for bidding purposes.
Interested parties may appear and be heard at such time regarding their opinions on the leasing of the aforesaid oil and gas interest.
/s/ Tiffany Ankrom
City Clerk