I have a old lease that covers most if not all of a parcel of land (188 acres)...there are a couple shallow wells, paying royalties.  I am  HBP , no question there. This is in Eastern Ohio

 

I read the lease...it limits pooling to 160 acres

 

It also states that compensation for oil is 1/8 delivered to lessor via pipeline or storage tanks

at no cost.

 

gas compensation is the usual. 1/8  revenues when sold at specific barometric pressures/temps......all that stuff.

 

 

My question: This lease obviously won't work out for a Utica/Marcelles well....so what could one expect in exchange for agreeing to modify the existing lease to meet the needs of the O/G driller?

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