Chesapeake improves Utica well results
Friday, November 10, 2017
Chesapeake Energy has tested new well-completion techniques, boosting production from its Utica Shale holdings, according to The Massillon Independent.
In the third quarter, new completion techniques improved Chesapeake’s Utica well results by 25 percent. The company’s production grew 24 percent from the previous quarter to 120,000 barrels of oil equivalent.
During the third quarter, Chesapeake’s total production averaged 541,600 barrels of oil equivalent per day. Chesapeake plans to continue testing new completions designs in the Utica and Marcellus shale plays.
Learn more: The Massillon Independent > Chesapeake testing new Utica Shale strategy
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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.