BP (NYSE: BP) announced an agreement to lease approximately 84,000 acres in northeast Ohio targeting the Utica/Point Pleasant shale formation from the Associated Landowners of the Ohio Valley (ALOV). The ALOV is a local Ohio group representing area mineral owners.

The 84,000 acres are located in Trumbull County, Ohio. BP reported in the news release terms of the agreement, to be executed with each landowner, are confidential. The company said its focus in 2012 will be to better understand the geology and devise a plan to safely develop the res...


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