Posted by JerryS on April 01, 2013 at 21:57:36 from (98.80.109.15):
In Reply to: Ohio oil rights posted by Cole Younger on April 01, 2013 at 18:57:30:
The primary thing you need to get from these responses: Get a good Ohio O&G attorney.
The law on mineral rights varies from state to state. Here in Louisiana mineral rights can be retained by the seller of a property for 10 years, and in perpetuity if production commences during that 10 years. If there is no exploration/production during that time, the mineral rights revert to the new owner of the property. Not sure, but I think that if existing production ceases for 10 consecutive years mineral rights go to the current owner of the property.
I can vouch for both situations: I bought 12 acres in 1989; the seller retained mineral rights. There was no exploration or production for 10 years, so the mineral rights reverted to me. To my great joy, a couple of years later I learned that my land sits about dead-center of the Haynesville Shale gas field. (I didn't learn that until after I had signed a low-ball lease with Chesapeake Energy, however.) One of the first of hundreds of Haynesville wells was drilled about a mile from my place.
The other situation: In about 1980 my parents sold the old family lands, about 200 acres. They retained mineral rights. In this case there had been continuous production of shallow gas in the section since back in the 40s. When my parents died the mineral rights (and royalties) passed to my brother and me. This property too was found to be in the heart of the Haynesville Shale. Several Haynesville wells have been drilled there, so I am now receiving royalties from a lease signed 70 years ago, on land that we haven't owned since 1980.
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