Chesapeake to continue operating in Marcellus shale post-bankruptcy
Tuesday, October 13, 2020
Although the bankruptcy process for Chesapeake Energy ins far from over, some details of the company’s projected future operations, expenses, earnings and debt from 2021 through 2025 have been revealed in a recent filing with the U.S. Securities and Exchange Commission, according to The Oklahoman.
One revelation from the filing is that Chesapeake plans to continue operating in the Marcellus Shale field following its bankruptcy proceedings. Currently, the company has 116 employees working out of offices in Sayre and Harrisburg overseeing operations across 540,000 acres, with four operating drilling rigs.
The company produced a daily average of 175,000 barrels of oil from its Marcellus Shale operations during the second quarter of 2020.
Learn more: The Oklahoman > Chesapeake Energy’s highly anticipated post-bankruptcy plan partially revealed in SEC filing
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How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
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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.