Big energy companies tying up the mineral rights of Ohio landowners with oil and gas leases has been a common practice throughout the state. These leases can be mutually beneficial to both the energy companies and the landowners when the energy companies drill wells on the properties. However, when they don’t drill, it can leave landowners upset and frustrated not knowing if the true potential value of the lease will ever be realized.
Ohio landowners who entered into oil and gas leases where the energy company didn't perform are left waiting until the term of the lease expires. At that time, they can regain control of their mineral rights. With many oil and gas leases, that waiting period is years. For Ohio landowners who signed leases with Beck Energy Corporation, the wait is over.
Akron attorneys Rick Zurz and Mark Ropchock of the law firm Slater & Zurz LLP argued that people who leased their property to Beck Energy Corporation under a standard form oil and gas lease, where Beck Energy Corporation neither drilled or has prepared to drill a gas or oil well, should be allowed to get out of the lease. A Monroe County, Ohio Court agreed and ruled that certain types of inactive leases with Beck Energy Corporation are void.
“The court’s decision is a very important ruling for Ohio landowners”, said Jim Slater, the managing partner at Slater & Zurz LLP. “Ohio landowners are no longer stuck in oil and gas leases where Beck Energy Corporation didn't drill any wells. They once again will have unrestricted access to their mineral rights and options to use these rights as they wish”, he added.
The ruling by the Monroe County court is on appeal with The Court of Appeals of Ohio, Seventh District, for Monroe County, Ohio.
Questions about this legal case or inactive oil and gas leases can be directed to Slater & Zurz LLP by calling 1-800-297-9191 or sending a message from the law firm’s website at slaterzurz.com.
About Slater & Zurz LLP
Slater & Zurz LLP is an Ohio law firm of highly experienced and respected attorneys. Over the last 40 years, the law firm has developed a reputation for getting positive results for clients in all types of legal cases big and small. The law firm has delivered clients more than $150,000,000 in verdicts and settlements. To contact Slater & Zurz LLP, please call 1-800-297-9191 or visit the website at slaterzurz.com.
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