Eclipse enters Utica Shale joint venture with Sequel
Tuesday, August 15, 2017
Eclipse Resources signed an agreement with Sequel Energy Group to enter a joint venture to drill in the Utica shale, according to The Business Journal.
According to a news release announcing Eclipse’s second quarter earnings, Sequel has committed up to $325 million to fund its portion of two drilling programs, including 34 existing wells and wells developed through the end of 2018.
Eclipse also reported net income of $11.5 million for the three-month period ended June 30, and average daily net production from the company’s wells stood at 287.8 million cubic feet per day.
Learn more: The Business Journal > Eclipse Resources Enters Into $325M Utica Joint Venture
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
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.