Federal fracking rules announced for wells on public lands
Friday, March 20, 2015
The Obama Administration revealed the country’s first federal fracking regulations on March 20, according to The New York Times.
The regulations, which apply to oil and gas wells on public land, will allow government workers to inspect the safety of the cement barriers that line wells. Oil and natural gas companies will also be required to disclose the chemicals that are used for fracking within 30 days of fracking completion. In addition, companies will have to provide the Bureau of Land Management with detailed information on well geology.
The regulations will go into effect in 90 days. These regulations will likely be the first set of federal rules to be issued by the Obama administration.
Via: The New York Times > Obama Administration Unveils Federal Fracking Regulations
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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.
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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.