Ohio’s Dormant Minerals Act – Ohio’s Courts Weigh In
Below is an excerpt from a presentation I gave on November 8, 2013 for the Ohio Association of Justice Seminar. A broader overview of Ohio’s Dormant Mineral’s Act can be found here.
Commencing in the spring of 2010, eastern Ohio experienced an unprecedented oil and gas leasing boom due to the discovery of the Utica Shale. In the recent past, Ohio landowners might expect to receive $10-20/acre for signing an oil and gas lease. Presently, prices in the range of $3,000-6,000 have become the norm. Hundreds of wells have now been drilled throughout eastern Ohio into the Utica shale, with some being prolific producers.…