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Tuesday, June 18, 2013

Court Rules That Landowner Can't Get Out of Lease for Low Amount of Drilling

An Ohio landowner who attempted to reclaim leasing rights to a portion of the 275 acres leased to an oil and gas company because they only drilled 3 wells before abandoning further development was unsuccessful, as the court ruled that the lease stood.

While not dealing with the Utica shale, the legal precedent would apply to any such case.  And the lesson yet again:  know your lease before you sign.  If you have certain requirements that you want met before signing, consult an expert and get help in making sure that those requirements are met before you sign.

Read a quick summary of the case here.

And here is the court's decision:




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