On November 2nd, the Supreme Court of Ohio issued its decision in Lutz v. Chesapeake Appalachia, L.L.C. In its opinion, the Court declined to answer a certified question from the Northern District of Ohio regarding whether Ohio follows the “at the well” rule or the “marketable product” theory with respect to post-production costs, leaving it up to the federal court to interpret the parties’ contracts under traditional cannons of contract construction.
To learn more about this decision, read our Client Alert.