Special briefing focuses on issues impacting landowners with older leases

COSHOCTON – I have an old oil and gas lease on my property. How will this impact my family during the current shale drilling boom? Coshocton County community leaders and interested residents are invited to attend a special briefing exploring older lease issues and options, sponsored by the Coshocton County Landowners Group in conjunction with the Coshocton County Farm Bureau. The briefing will be at the Coshocton County Career Center on Wednesday Jan. 16 at 6 p.m.

The program will be facilitated by Dale Arnold, Ohio Farm Bureau Federation (OFBF) Director for Energy, Utility and Local Government Issues.

“Long-term energy demand and new drilling technology have sparked heightened oil and gas exploration in the Marcellus and Utica Shale deposits throughout eastern and central Ohio,” Arnold said. “Communities are experiencing rapid growth, resource competition and potentially large inflows of bonus, land rental and royalty payments. Welcome to the boomtown.”

Lease agreements define business relationships between landowners and developers. While the terms and conditions for some new projects are detailed in new lease agreements, many more are governed by older leases signed years ago. These older leases were acquired through reassignment and lease portfolio purchases. Landowners with old leases incorporated into new projects want a better understanding of their options, potential benefits and responsibilities.

During the course of the briefing, Arnold will discuss basic lease concepts, remedies and actions landowners can take to have older leases canceled, opportunities whereby older leases could be reopened for renegotiation, and current regulations in place offering resource protection and remediation.

Questions one should ask while selecting an attorney for legal advice/assistance, as well as matters to address if the family is considering selling all or part of their mineral rights and/or royalty provisions defined in an old lease will be explored.

Arnold has been involved in energy and utility related issues since 1995. He represents farm and rural residential energy consumers on a variety of government working groups and public utility advisory boards. He has extensive experience working with county Farm Bureaus and local residents, and works with organization leaders to help communities and families address issues surfaced in part by energy development.

Category: Education