I'd like to able to tell you what it says but there is none. Many landowners who own their mineral rights in Ohio are trapped into leases in underground storage fileds from leases that have paid next to nothing and are up 100 years old in Eastern Ohio. Those old leases oftentimes took control of the property owners mineral production under the guise of protection of the storage field. Companies like Columbia Gas have been offering up control of those minerals to the highest bidder. What they claim to have taken for "protection" of the storage field they now sell as an asset. Sadly those old leases have no royalty for gas to the mineral owner, other than $50 to $200 if there's a well ever placed on the premises producing in paying quantities. People who own their mineral can potentially have millions worth of gas sucked from them without any compensation.
I know most of the people who chime into this website are people who have leased and now check for clues about when and where a well near them may appear. But don't lose sighter of your fellow Ohioan's who will get exploited. Texas, West Virginia, Pennsylvania, New york, and most other states have minimum royaly laws to help protect those who would be exploited under the types of leases mentioned above. Everyone Please call State Rep. David Hall, Chair of Ag & Natural Resource Committee at 614-466-8150 AND State Senator Cliffe Hite, Chair of Ag & Natural Resource Committee, and tell them how importatnt it is to protect Ohioans from being exploited and the need for a minimum royalty law/act. This is pretty urgent as drilling is already beginning. Calling your own state rep & senator is also beneficial if you have one of these leases. Let's help each other out. THANK YOU!
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Marcus- I'm not quite sure what youa are saying. The old storage leases say they pay the landowner $1 per year per acre for storage RENTAL. They then go in to say in the ROYALTY SECTION $50 to $200 per year (depending on the lease) "per year for each well drilled, reconditioned or reopened upon said premises and thereafteroperated by lesee to produce gas in paying quantities as a gas production well."
This being said with no other royalty as being identified for the production of gas.
The sad thing is that in the underground storage zones, those leases would have to have been signed by the landowners or would have been imposed, as storage field zones are conidered a public utility, and once the feds would have approved the plans......well you know what happens then.
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