Ohio counties are getting into the action in eastern Ohio in the context of oil and gas leasing. An article in the Morning Journal reports that the Columbiana County Commissioners recently entered into an oil and gas lease with DPS Penn (a leasing entity working for Chesapeake Energy) that includes an up-front bonus payment of $2,700 per acre. With the county leasing 568 acres, the total bonus payment will generate approximately $1.53 million for the county. The oil and gas lease also includes royalties of 17.5%.
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Columbiana County, Ohio receives up-front bonus payment of $2,700 per acre from chesapeake energy as part of oil and gas lease
- Bricker & Eckler LLP
- Matt Warnock
- USA
- August 4 2011
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How Yee Loh
In-house Counsel
Kuok Group
