Hello. Brand new to the forum. Thanks for being here.
I have been offered a gas lease by Ascent on ¼ acre of mineral rights in Jefferson County, Ohio. I am likely to make little or no money, but I am very concerned about liability. Ascent has agreed to add three clauses to their contract: indemnity, warranty of title, and no surface rights. I have been trying to educate myself for months now, but cannot find answers to three nagging questions:
If I sign the lease, is there any liability risk to my current/existing assets?
If there is risk, is it diminished or eliminated if I am force pooled?
Is it possible that the gas company’s title exam could show that I owe taxes or fees on these mineral rights (that I never knew existed prior to being contacted by the landman)…or are there no taxes on mineral rights?