Forced pooling bill resurfaces in West Virginia
Wednesday, November 18, 2015
West Virginia state lawmakers are going to revisit forced pooling legislation again next year, according to WV MetroNews. In March, a forced pooling bill died in the regular session.
A proposal to restore the Oil and Gas Conservation Commission was received Nov. 16. The group would have the duty of approving both shallow and deep well drilling on large tracts of land where mineral rights owners don’t give permission to drill, as long as at least 80 percent of the other mineral rights owners have granted permission.
Forced pooling is the legal concept that allows drillers to extract natural gas beneath the land of property owners who refuse to sign a lease or cannot be located, as long as enough surrounding property owners have signed leases.
Via: WV MetroNews > Forced pooling bill has new life in legislature
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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.