Ohio receives eight applications to drill on state lands
Friday, June 2, 2023
The Ohio Department of Natural Resources received eight permits to drill on state lands on Tuesday — the first day under a new legal regime, according to Cleveland.com.
The identities of the applicants, where they want to drill and details from their proposals, such as signing bonuses, royalty payments and water use deals were not disclosed. The Ohio Department of Natural Resources is in the process of posting non-confidential portions of the applications online.
The applications mark a new chapter in a 12-year effort to drill for oil and gas on Ohio’s lands, including its state parks.
Learn more: Cleveland.com > On day one, Ohio get eight applications to frack on state lands
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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.