Elk Lake royalties available for view on web
BY PAT FARNELLI
The Elk Lake School District has two producing gas wells on its campus, and has been receiving royalty payments from Cabot Oil & Gas.
During the April 9 school board meeting, an audience member questioned why no reports of royalties received had been made available.
Previously, printed charts showing the school’s income from natural gas activity were made available in written form at the board meetings.
However, a recent change to the BoardDocs web-based system eliminated the need for paper copies.
Board secretary Lori Evans said the royalty reports are attached to the treasurer reports for the Elk Lake School District’s Board Docs on the district’s website.
However, there was no treasurer’s report provided at the April meeting and the royalty report did not appear to be attached to the SCCTC treasurer report on BoardDocs.
If a search is made on the school website for Cabot royalty payments, the following link can be found as an attachment to the March meeting documents: http://www.boarddocs.com/pa/elklake/Board.nsf/Public.
This links to a complete listing of royalty payments received from the district’s original sign-on bonus to the Feb. 25 royalty payment of $22,317.79, bringing the total of royalty payments received by that date up to $1,686,201.10.
The lowest royalty payment received in the past year was for $16,733.48, which was the royalty check for Dec. 25.
The district’s leased acres are divided into three pooling units. Evans said the March 25 royalty payment received was $29,578.32.