Lordstown landowners could get bigger royalties with contract lo - WFMJ.com News weather sports for Youngstown-Warren Ohio

Lordstown landowners could get bigger royalties with contract loophole


LORDSTOWN, Ohio - Landowners in Lordstown who have old leases with gas companies may soon be able to get bigger royalties.

NCL Appalachian Partners, who had been drilling on their properties in the Clinton formation, sold its deep drilling rights to Texas based Halcon and a loophole in the contract allows the residents with the Lordstown Regional Landowners Group to bargain over land, safety, and royalty issues as Halcon drills in the Utica formation.

"The Halcon representatives are already in the area with amendments asking people to waive that clause and most of them are members of our group," said Lordstown Regional Landowners President Michael Hodak. "They are saying, 'I belong to The Lordstown Regional Landowners Group, you'll have to see our attorney.'"

The Utica drilling would involve 31 acres of land.

The group's attorney is drafting an amendment to the contract that is representative of its needs, and he will send it to Halcon for approval.

Powered by Frankly
All content © Copyright 2000 - 2018 WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms