Ohio legislature passes bill to allow state agencies to lease land to develop oil and gas
Wednesday, December 28, 2022
The Ohio legislature passed a bill that qualifies natural gas as green energy and allows state agencies to lease land to develop oil and gas, according to Natural Gas Intelligence. The bill awaits a signature from Republican Gov. Mike DeWine for final approval.
State agencies are not automatically required to lease land for oil and gas exploration and production activities under current Ohio law.
“Ohio’s had the law on the books that you’re able to lease state lands for over a decade, and one of the things that was supposed to happen during this time period was the Oil and Gas Land Management Commission was to provide a rule framework for that to happen,” Ohio Oil and Gas Association President Rob Brundrett told Natural Gas Intelligence.
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Shale FAQ
How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
Are my royalty payments transferable?
Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
What are royalties?
Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.