Mineral Rights Agreement Reached by Some in Columbiana County's Brinker Storage Field
From The Vindicator:
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Some of the residents who live within the Brinker Storage Field in Columbiana County have reached an agreement with the parent company of Columbia Gas about deep mineral rights.
The company offered a group that had elected not to sue NiSource, the parent company of Columbia, a 15 percent royalty on oil and gas production, said state Rep. Craig Newbold, R-1st, who helped facilitate the deal.
Newbold, of Columbiana, met with both residents and NiSource separately to discuss the situation. NiSource has signed an agreement with Hilcorp, a Houston-based oil and gas company, to develop oil and gas in the storage field.
“I think both groups were willing to compromise,” he said. “The agreement the residents got was a little above their expectations.”
Read the rest of the story here.The properties had been subject to decades-old storage leases, which meant no lease bonus and royalties of just $200 a year if gas was being stored under their property — and nothing if it wasn’t.
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