Biden admin presents new challenges for oil and gas industry
Friday, March 26, 2021
Since taking office president Joe Biden and his administration have presented some challenges and created a lot of uncertainty for the oil and gas industry, according to Farm and Dairy.
The first of Biden’s executive orders to impact the industry was the cancellation of the Keystone XL oil pipeline, which would have sent oil from western Canada to Nebraska.
Additionally, Biden placed a moratorium on new oil and gas development on federal lands; rejoined the Paris Climate Accord; set a target to make the U.S. carbon neutral by 2050 and ordered the review of many Trump-era decisions to rollback or revise environmental regulations like Waters of the U.S., methane emissions from oil and gas facilities and the Endangered Species Act.
Learn more: Farm and Dairy > New administration, new challenges for oil and gas industry
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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.