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Ohio is rich in shale, and shale oil can be refined just like petroleum. In addition, the layers of shale sometimes capture large pockets of natural gas that can be harvested and used. It’s no wonder that oil and gas companies often seek contacts with landowners that will allow them to develop those natural resources.
However, landowners need to be careful. Oil and gas leases are complex. Many landowners are so caught up in the excitement of a potential windfall that they sign away important rights.
Here are some tips if an oil or gas company is asking for a lease:
Remember, no matter how ingratiating the oil and gas company may seem, they are not asking for a lease to do you a favor. They are purely concerned with their own company’s financial well-being, which is why many landowners prefer to have an attorney represent them during mineral lease negotiations.
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