Obtaining Unexpected Profits from Ohio’s Dormant Minerals Act
Ohio’s dormant minerals act (DMA) is designed to rejuvenate abandoned oil and gas reservations by granting them to the surface owner (a more detailed explanation of the DMA can be found here).
A basic DMA process with one oil and gas holder:
In a very basic scenario, the Surface Owner notifies the oil and gas Holder that their rights will be declared abandoned in 60 days. In order to retain their interests, the Holder must record a claim form prior to the 60th day. A timely filed claim form shuts down the whole process: the Surface Owner cannot re-capture the Holder’s interests.…