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Tuesday, November 13, 2012

Ohio Bill Would Provide Stricter Regulation For Landmen

From the Youngstown Vindicator:
The idea of legislation to regulate landmen who negotiate oil and gas leases has industry leaders claiming new regulations are unnecessary and complicated. Supporters, meanwhile, argue such changes are needed to deal with an expanding industry. 
Ohio House Bill 493 would require registration of all landmen, along with a checklist of information the landmen and the lessee would have to sign acknowledging the property owner understood the leasing contract and the procedures involved in oil and gas production. 
Legislation covering the oil and gas industry will continue to evolve, said state Rep. Ronald V. Gerberry, D-59th of Austintown, a bill co-sponsor. State Reps. Robert Hagan, D-60th of Youngstown, and Thomas Letson, D-64th of Warren are also co-sponsors. 
“I talked to a legislator in North Dakota, and I don’t think we are totally aware of what we’re about to see in the Mahoning Valley and the entire eastern Ohio corridor,” Gerberry said. “There is a need not only to regulate landmen, but also to ensure that people are protected from the companies that are coming in here.”
Read the whole article here.

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