I am a old land owner in southeastern ohio and I have a couple of questions. Any help is appreciated as I'm definitely not an oil man.
How deep can a shallow oil well go and still be considered shallow? I think they are trying to drill a deep well but call it shallow on me.
Also, how deep do they lease in a deep oil well lease?
Finally, how much should I expect to be paid if they lease my farm by the acre? I found a website that told me prices in per well, but I've been offered a lease per acre and I'm not sure what is fair.
Thank you again,