Hess In Jefferson County
Read yesterday on MDN where Hess lost in a Federal Court pertaining to their buying about 300 old tailgate leases from other O & G Companies (in Jefferson County Ohio) and now according to that court's ruling must pay something in the neighborhood of $5 k per acre signing bonuses to affected landowners.
Wonder what that's going to translate to pertaining to the rest of the lease market especially here in Ashtabula County ?
Wonder what that's going to translate to pertaining to the rest of the lease market especially here in Ashtabula County ?
Thought it important as it illustrates complexities involved in these things and how they (courtroom battles) could be causing delays in development.
I think this could have far reaching impact; and even in-so-far as un-leased landowners facing the threat of being 'force pooled' into a drill unit assembled under a deficient 'tailgate' class lease.
What's everyone else's take on this ?
What's everyone else's take on this ?
The link that follows takes you to another Farm & Dairy article on it all :
This article reads that Hess is going to continue fighting the ruling.
I guess that means appeals and / or a higher level Federal Court.
No wonder these Utica O & G things take so long.
I'd think that time and money would be better spent developing infrastructure, wells, production and sales / marketing.
But, that's just me.
I guess I'll have to wait and see what happens next.
Wishing the landowners down in Jefferson County much luck in their battle.
Hope they have their legal fees covered by the O & G opposition.
That's got to be pricey I'm guessing.
I guess that means appeals and / or a higher level Federal Court.
No wonder these Utica O & G things take so long.
I'd think that time and money would be better spent developing infrastructure, wells, production and sales / marketing.
But, that's just me.
I guess I'll have to wait and see what happens next.
Wishing the landowners down in Jefferson County much luck in their battle.
Hope they have their legal fees covered by the O & G opposition.
That's got to be pricey I'm guessing.
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pig dung replied to Theresa Kolk's discussion 'What's going on in your area?? any info???' in the group Tioga County, PA
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