NORWICH – In an effort to cash in on the gas drilling that has been taking place in Chenango and surrounding counties, the City of Norwich is considering the possibility of leasing city-owned property for gas exploration.

Large quantities of gas have been discovered in Chenango County, and gas exploration companies believe Chenango rests upon the Marcellus Shale formation, the largest untapped natural gas reserve in the country. The potential for big profits have convinced many landowners to lease land for gas drilling.

Currently, the city is investigating the specific restrictions pertaining to municipalities that individual property owners may not have to contend with, but if gas drilling proves to be safe, possible and a good source of revenue, Mayor Joseph Maiurano said the city is ready to explore the possibility.

The city currently owns 275 acres of land on Tanner Hill, as well as 35 acres on Borden Avenue and 300 acres near the waste water treatment plant on Rt. 12 that could potentially be used for gas exploration.