Chesapeake sells Marcellus and Utica shale assets to Southwestern Energy Co.
Sunday, October 19, 2014
The State Journal reports that Chesapeake Energy Corp. has sold its assets in West Virginia’s shale to Southwestern Energy Co.
The $5.375 billion sale totaled 413,000 net acres and about 1,500 wells in northern West Virginia and western Pennsylvania. This sale will allow the value of Chesapeake assets for shareholders.
Southwestern’s immediate plans for the newly acquired acres are to expand the drilling rig count over the next several years.
Via: The State Journal > Chesapeake sells remaining West Virginia shale assets $5.375 billion deal
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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.