Bank of America joins growing list to say no to financing Arctic drilling
Friday, December 4, 2020
Bank of America is the latest large U.S. bank to announce it will not finance oil and gas drilling projects in the Arctic, according to Yahoo News.
Goldman Sachs, Morgan Stanley, Chase, Wells Fargo and Citi have all adopted similar policies this year.
Bank of America’s decision follows the Trump administration’s decision to launch the formal process of selling oil drilling leases in the Arctic National Wildlife Refuge in Alaska.
Learn more: Yahoo News > Bank of America Latest to say no to financing Arctic drilling
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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.