Belmont County, OH Landowner Sues Hess Over $100/Acre Lease
Rebecca Bench, a landowner in Belmont County, Ohio is representing herself in a lawsuit she has brought against Hess. The lawsuit alleges that Mason Dixon Energy, whom she signed a lease with (that lease was eventually purchased by Hess) had no legal standing to conduct business in Ohio at the time they convinced Rebecca and her husband Kevin Bench to sign a lease in 2008 for $100 per acre. By comparison, recent lease agreements for Utica Shale leases in the county have gone as high as $5,200 per acre.
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The Utica Landowner Group of eastern Ohio has just cut a deal with Antero Resources for what is believed to be the highest amount paid yet for a lease deal: $5,900 per acre for a signing bonus, and 21 percent royalties. The deal covers land in Belmont, Monroe and Noble counties in Ohio.
A number of landowners from Belmont County, Ohio made the trip to Wheeling, WV last week to sign leases to allow drilling in the Utica Shale on their property. The leases were signed with XTO Energy, now a subsidiary of Exxon Mobil. The price landowners got for Utica leases rivals the highest prices MDN has heard of for any Marcellus Shale lease, in no small part because of Chesapeake Energy’s recent discovery of natural gas liquids and even oil in the Utica Shale in Ohio.
Ohio continues to be red hot with respect to leasing mineral rights for shale gas (and now oil) drilling. Some counties, like Belmont, can’t keep up with the lawyers and researchers who pour over property records at the County Recorder’s office: