Effective: September 30, 2021
Latest Legislation: House Bill 110 - 134th General Assembly
As used in sections 155.30 to 155.36 of the Revised Code:
(A) "Formation" means any of the following:
(1) The distance from the surface of the land to the top of the Onondaga limestone;
(2) The distance from the top of the Onondaga limestone to the bottom of the Queenston formation;
(3) The distance from the bottom of the Queenston formation to the basement rock.
(B) "Gross landowner royalty" means a royalty based on the proceeds received on the sale of production of oil or gas without deduction for post-production costs, but less a proportionate share of any and all taxes and government fees levied on or as a result of the production.
(C) "Post-production costs" means all costs and expenses incurred between the wellhead and the point of sale, including, without limitation, the costs of any treating, separating, dehydrating, processing, storing, gathering, transporting, compressing, and marketing.
(D) "State agency" means both of the following:
(1) "State agency" as defined in section 1.60 of the Revised Code;
(2) "State university or college" as defined in section 3345.12 of the Revised Code.
Last updated July 29, 2021 at 4:47 PM