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Wednesday, October 2, 2013

Ohio Landowners Set to Reap Reward After Court Case Victory Over Hess Corp.

From Columbus Business First:
A federal court ruling affecting oil and natural gas leases held by Hess Corp.(NYSE: HES) in eastern Ohio may have broad implications for the company, one of the big players in the development of the Utica shale play.
Columbus attorney Greg Brunton told me a recent ruling by U.S. District Court JudgeAlgenon Marbley in Columbus could result in Hess having to renegotiate several hundred lease agreements with property owners at premium prices or risk losing that acreage.
“For some property owners,” Brunton said, “the leases have expired. Hess will either lose them, which would be huge, or will have to pay the going rate.”
Read the rest of this story here.

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