Ohio Oil and Gas Leases
Ashtabula Ohio Oil and Gas Rights Attorney
With the new interest in Marcellus and Utica shale in Ashtabula County and Northeast Ohio, a number of oil and gas companies are promising lucrative oil and gas royalties and bonuses, asking landowners to lease oil and gas rights. Don’t sign these leases without discussing them with a qualified lawyer.
a) how long is the term of the lease, and how long can it be extended even if gas and oil is not being produced or sold?
b) When, and under what circumstances, does the “bonus” become available to you?
c) Does the lease provide for use of free gas for your home?
d) What kind of royalty is being paid, and how is that affected by the unitization of the well with other landowners?
e) Under what conditions can you seek a forfeiture of the well, and how difficult is it to obtain a court order of forfeiture?
f) What happens if your land is damaged, or if an oil and gas lessee abandons the well or its equipment?
If an oil and gas leasing company is seeking to lease your land, you need to understand the risks you may be taking by assuming this kind of encumbrance upon your land. Call us and we can help you sort out the issues and protect your land.
Contact Our Office
To schedule a consultation with our attorneys, Ashtabula County residents please call 440-576-9155, residents outside of Ashtabula County please call 866-373-0497 or contact us online to schedule an appointment. Our Jefferson office is conveniently located right across the street from the Ashtabula County Courthouse