Drilling leases in Arctic wildlife refuge largely go to Alaska state agency
Friday, January 8, 2021
Of the 16 bids the Trump administration received during its sale of oil and gas drilling leases in an Arctic wildlife refuge in Alaska, 11 came from a state agency, according to Reuters.
The lease ale generated more than $14.4 million in high bids, Kate MacGregor, deputy secretary at the U.S. Department of the Interior, said in a live broadcast that also revealed the bids.
Learn more: Reuters > U.S. says Alaska state agency wins most drilling leases in Arctic wildlife refuge
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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.