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OFBF continues to equip landowners on gas leasing
Ohio Farm Bureau continues to speak to landowners regarding opportunities and challenges they may experience as interest in gas exploration spreads across the state.
While much of the activity has occurred in eastern Ohio, landowners farther west are now being approached with lease agreements.
“You are all part of an energy development process and you need to be at the table,” said Dale Arnold, OFBF’s director of energy services, recently speaking to more than 100 landowners in Wyandot County.
Oil and gas exploration isn’t new to this region, but for many it is unfamiliar.
John D. Rockefeller didn’t make his money in Texas, Arnold reminded the group. “He made it in western Ohio.”
Although exploration had dried up since that time, gas reserves still remain and drilling companies are returning to get what their predecessors left.
Already, there are stories of landowners who have signed leases for just a few dollars per acre when the actual value could be in the hundreds or thousands of dollars over the life of lease.
“It all depends on what’s under your feet,” said Arnold, who has spoken to thousands of landowners in recent years.
Among Arnold’s advice is to ask for a detailed lease agreement and to not sign anything without consulting an attorney. “Attorneys are going to be expensive,” Arnold said. “Not having one is going to get more expensive.”
You can read more about how oil and gas exploration is impacting landowners in the March 22 issue of Buckeye Farm News.
Find an oil and gas leasing meeting near you.
Watch a video of Dale Arnold discussing oil and gas leasing
Listen to Town Hall Ohio radio show on oil and gas leasing from Feb. 2011