Does Ohio have minimum royalty requirements by statute for private land?

Ohio currently does not have statutory minimum royalty requirements for private land. This means that landowners leasing their property for oil and gas extraction are not guaranteed a specific percentage or amount in royalties from the production of these resources. Royalties are typically negotiated privately between the landowner and the lessee, which can lead to variations in the agreed-upon terms depending on the market conditions and other factors.

The other options suggest varying degrees of requirements or regulations that do not apply to private lands in Ohio. While public lands may have their own set of requirements, the law does not impose any minimums on private leases. There have been discussions around the establishment of such regulations, but as it stands, they do not currently exist for private landowners. This absence of regulation places greater responsibility on landowners to negotiate favorable terms, which can be beneficial or detrimental depending on individual circumstances and market dynamics.