NACCO Industries subsidiary prevails in Ohio Supreme Court on certified question of law under Ohio's Dormant Mineral Act
Clients NACCO Industries, Inc.
On November 5, 2015, the Ohio Supreme Court answered a certified question from the United States District Court for the Southern District of Ohio in agreement with the arguments of Jones Day's client NACCO Industries, Inc. The court found that an oil and gas lease is a "title transaction" under Ohio's Marketable Title Act and Dormant Mineral Act, and therefore a savings event that prevents severed mineral rights from being deemed abandoned and reunited with ownership of the surface. NACCO Industries subsidiary North American Coal Royalty Company owns severed oil and gas rights in the Utica Shale.
Chesapeake Exploration, L.L.C. v. Buell, Case No. 2014-0067 (Ohio)