Are Leaseholders Ready for Oil?

The American Agriculturist has this piece on the new prospects for oil in the Utica Shale but warns leaseholders to check their lease to see whether it covers everything beneath their land.

“Most gas leasing contracts signed in recent years cover natural gas, gas liquids and oil in all formations, according to Jim Leonard, natural gas leasing consultant from Endicott, N.Y. Older leases, however, may not. So landowners may want to make certain they understand their lease provisions.”

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