American Petroleum Institute pledges to fight possible Biden fracking limits
Wednesday, November 25, 2020
The American Petroleum Institute has pledged to use “every tool at its disposal” including legal action if U.S. President-elect Joe Biden tries to restrict development of oil and gas drilling on federal lands, chief executive Mike Sommers said in an interview with Reuters on Monday.
Biden has stated he supports a ban on new gas and oil permits on federal lands, which includes fracking permits.
According to Reuters, Sommers said the API looks forward to working with the Biden administration on energy, but would balk if Biden implemented restrictions on lands that were “always meant for multi-use.”
Learn more: Reuters > U.S. oil industry group pledges to fight possible Biden fracking limits
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
Shale FAQ
How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
Are my royalty payments transferable?
Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
What are royalties?
Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.