News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

Levin Furniture


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Economy and Business


Major round of re-leasing unlikely in Ohio
Billions have been paid so far in Ohio for initial leases
by WKSU's TIM RUDELL


Reporter
Tim Rudell
 
natural gas well in Stark County
Courtesy of tpr
Download (WKSU Only)
In The Region:

Oil and natural gas drilling leases often terminate or are renegotiated if there’s no progress toward creating producing wells on the property during the lease term—typically three or four years.  For economic and other reasons millions of acres in Ohio’s Utica Shale play remain undeveloped -- with leases coming due. WKSU’s Tim Rudell reports on whether that means another big payday for Ohio landowners, or something else.

Click to listen

Other options:
Windows Media / MP3 Download (1:00)


Billions of dollars worth of oil and gas leases have been signed in Ohio since 2009. And, expiration dates are rolling up on many early ones -- where there’s been no drilling. Re-leasing is an option for energy companies, but that could be expensive.  And they may not need to. 

A lot of locations have proven non-viable for drilling so they don’t want those anyway.  Then there’s a move some companies are making of filing papers at the last minute saying a property is being folded into a development unit where drilling is taking place—that in, legal terms, will “hold the lease by production.” And, in our part of Ohio, attorney Alan Wenger says there’s another wrinkle.

“A large portion in the northern counties were already leased for conventional wells.  And the horizontal drilling companies took the assignment of deep rights from those older leases, already ‘held by production’ by the conventional wells. So they go on and on and on, as long as the conventional well is here.”

So a wave of new lease payments across the state is unlikely.  But new lease filings are reportedly brisk in the counties just south of our area.
Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook




Stories with Recent Comments

Ohio becomes first in the nation to dump PARCC testing
Best test to use for elementary schools is the old pre common core Iowa test of basic skills. This test measures apples to apples and tests the skills appropri...

Ohio is moving forward with new standardized tests
Mr Chow, Nice piece on testing. Should not Ohio go to an open bid process for the new assessment contract? Ohio has stayed with a "connected" DC non-profit fo...

The Surpreme Court gay-marriage decision plays out in Ohio Amish country
Keep in mind that the majority of the people residing in Holmes County are Amish, a church people who do not vote because they do not believe in governmental ru...

Akron council committee recommends Forney for its opening
Which committee member voted for Wilhite?

Nearly a dozen Cuyahoga gay couples get licenses to marry after the Supreme Court ruling
Presiding Judge Anthony J. Russo a graduate of Chanel High School and supposed member of St. Francis Parish in Gates Mills has just excommunicated himself. As ...

Canton Youth Symphony is named orchestra of the year
This is what makes CSO the hippest small town orchestra in America!

What can be expected if Ohio's tobacco taxes increase?
let's face it! The increase has little to do with smoking cessation

Rare Cleveland Indians photo from 1911 hits the auction block
Paddy Livingston, who cut his teeth on a Louisville Slugger in Kent, Ohio was one of the immortals that played in that game. He was the catcher. Ty Cobb actuall...

Nexus denies Green's request to relocate its planned gas pipeline
These people have so much power. Too much. They could care less about the people they leave when it is done. Spectra does not, and admits, they do not do the...

Copyright © 2015 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University