Contractual obligations will likely keep drillers in Ohio regardless of severance tax hike

Mineral rights experts are confident that oil and gas companies have leased so much acreage in Ohio that it is unlikely Gov. Kasich's proposed severance tax hike will deter drilling activities, Crain's Cleveland Business reports. Because most mineral rights leases "require drillers to begin production on each property in three to five years," oil and gas companies risk either losing the leases completely or having to renew them for a significant cash bonus if they attempt to avoid or delay drilling in Ohio, the article said.