 If you work in Ohio, hopefully you are all aware of the Ohio Supreme Court case, Dundics v. Eric Petroleum. At issue in that case was whether Ohio landmen needed to be licensed real estate brokers and the ultimate answer was yes.
The industry, including the AAPL and OOGA, worked to get an exception to the requirements through Senate Bill 263. You can find more about the specific requirements here. If you are independent, or work for a broker, there are certain requirements you will now need to follow. By the way, the exception does not apply to anyone acquiring fee mineral interests (i.e. mineral buyers), so those of you doing that will still need to have a real estate broker’s license in Ohio. For the rest of you, you are now required to be registered. The registration form was finalized and released earlier this week. You can access it here. Landmen will also be required to present this disclosure form to landowners upon first contact and prior to entering into any agreements with them for the purpose of exploring for, producing, or developing oil & gas interests. Please note that you also must also be a member in good standing in a national, state, or local professional organization that has been in existence for at least 3 years and has, as a part of its mission, developed a set of standards of performance and ethics for landmen. If you fail to register, you will be subject to the penalties for unlicensed activity. Comments are closed.
|