When you discovered that there was oil beneath your Ohio property, you may have imagined large royalty checks coming in monthly that would allow you to retire and live in luxury. However, the contracts used by oil and gas extraction companies are often complex. We at the law firm of Baker, Dublikar, Beck, Wiley & Mathews are well-versed in the information that every landowner should know before signing a contract with an energy company.
Thanks to the Utica Shale, many landowners in Ohio are wondering about leasing their property to oil and gas companies. While the thought of oil makes many people see dollar signs, the truth is that often, the terms of the lease reduce profits significantly. The Stark County Farm Bureau explains that many factors go into negotiating a fair lease agreement.
If you are a landowner, you may face all sorts of concerns, from paying your mortgage to issues with neighbors. However, many landowners in Ohio have resources on their property, such as shale deposits that may attract interest from oil and gas companies. Our law firm understands how complicated these issues can be for landowners, some of whom may not even be aware of their rights. If you are in the middle of a dispute with an oil or gas company or believe that your rights have been violated, it is important to go over all details carefully and handle the situation appropriately.
Recently, the Ohio Department of Natural Resources released data on oil and gas production in the state. The numbers point to strengthening natural gas production in the state.