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Bayer Leases WV Land for Shale Drilling, U.S. CEO to Retire

6:02 AM MST | February 17, 2012 | —Lindsey Bewley

Bayer says it has agreed to lease mineral rights at its New Martinsville, WV site to to Gastar Exploration (Houston) for development of Marcellus Shale natural gas resources. Bayer is also in discussions to lure parties interested in building ethane-based crackers at the site. Bayer says it expects the agreement with Gastar to generate $30 million over 30 years. Gastar officials say drilling at the site and a sure supply of ethane could make the site more attractive for petrochemical investment. “They could still put a cracker there,” Michael McCown...

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