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Bidding War Doubles Price of Gas Drilling Leases

A fierce bidding war has erupted in Pennsylvania over leases for natural gas drilling, more than doubling the price for extraction rights, the newspaper Gant Daily reports.  Over the last four years, more than 650 wells have been dug in a shale formation that extends from the northeast section of Pennsylvania to the southwest corner, as well as into New York, West Virginia and Maryland.  Hundreds more wells are expected across the region.

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