The majority of property owners who receive royalties from Ohio Valley Energy never experience any disruption to their land, but simply agree to add their property to a drilling unit to make exploration possible under the law. This is accomplished through a non-development lease.
Landowners who sign non-development leases receive revenue with no liability and no disruption to their property.
Frequently Asked Questions:
If I sign a non-development lease, will there be any drilling or related activity on my property?
No. All drilling activities will take place on another property.
Why do I need to sign a lease if there will not be any activity on my property?
Ohio Valley Energy is required by State law to obtain a certain amount of leased acreage to drill an oil and gas well. Landowners in the neighborhood of the well site are encouraged to be part of that drilling unit to receive the financial benefit.
What compensation would I receive for signing a lease?
Ohio Valley Energy has one of the most landowner-friendly compensation plans in the industry. We provide payments upon drilling as well as ongoing royalty payments. For the specific project in your area, check with your Ohio Valley representative.
Do I have any financial obligation?
No. There is absolutely no cost to the landowner.
Do I have any liability once I sign a lease?
Ohio Valley Energy includes a clause in its oil and gas lease agreements holding the landowner completely harmless from any liability.
What is the downside to not signing the non-development oil and gas lease?
Your acreage may not be included in the drilling unit and therefore you would miss the ability to take advantage of this financial opportunity by not receiving the signing bonus and future royalties.
How can I learn more about these opportunities?
You can contact our land department by email or call us at (330) 799-2268.