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Sep 19, 2012
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Landowners within the Brinker Storage Field meet with Columbia Gas and Hilcorp Energy
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Columbia Gas Transmission, which owns the 35,000-acre Brinker Storage Field in Columbiana County, and Hilcorp Energy, which will do the oil and gas drilling for Columbia on these acres, met with landowners who are upset that decades-old mineral rights leases that pay as low as $4 per acre with no royalty percentages “are keeping interested landowners from signing new, more lucrative leases with other oil and gas exploration companies,” The Review reports (Read the May 07, 2012, blog – “Landowners sue to have old gas storage leases terminated to make way for new leasing deals”). With three landowners already having filed a lawsuit against Columbia arguing that “the old leases have expired due to lack of activity on the properties and lack of payment of lease fees,” Hilcorp said that it will work with landowners until they are “satisfied” and has even floated the idea of “proposing an amendment to the existing leases that would include a 12.5 percent royalty,” the article said. For more, read the full story here.
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Posted by
M. Warnock
in
Ohio
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