Earlier this month we announced something pretty incredible: since beginning operations in Susquehanna County, Cabot has paid its landowners more than $1 billion in royalties. And that figure doesn’t even include the nearly $500 million paid out in signing bonuses for their leases.
For our latest WNEP Power to Save segment, we took a deeper look at what has been accomplished in ten years and to celebrate these milestones with the community. Donna Williams, a farmer and Cabot landowner, shares her story of what the natural gas development on their property has meant to her and her family. Not only are the royalties benefiting their current farm, but her sons were able to purchase additional land for future expansions.
Susquehanna County Commissioner Alan Hall also shared that in addition to the new economic activity in the form of jobs and businesses, it has helped to keep farms within communities and to preserve the rural aspect of the region. And thanks to the additional money from the Act 13 impact fee dollars the industry pays, the county will save local taxpayers an estimated $30-40 million over the next 30 years.