Court decision settles long-standing Ohio energy royalty dispute Oct 26 2017 [Reuters]
Chesapeake Energy Corporation (CHK)
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Source: Reuters
Court decision settles long-standing Ohio energy royalty dispute | Reuters Reuters Staff 3 Min Read (Reuters) - A U.S. District Court in Akron has ruled that Ohio law allows energy companies to deduct fees from payments to royalty holders whose contracts set a value at the well site, settling a widely-followed case involving Chesapeake Energy. The decision defined for the first time what Ohio law means when it says value of energy in such contracts is established “at the well.” Plaintiffs in the lawsuit had sought class action status and other royalty cases have alleged improper deductions based on the ‘at the well’ language. Ohio has become the sixth largest natural gas producer in the United States because of the discovery in recent decades of shale gas in what has become known as the Utica shale field. In 2009, Regis Lutz and other royalty holders sued Chesapeake, Columbia Energy Group and NiSource Inc alleging breach of contract and fraud over deductions for services that took pla
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