Gulfport looks to sell Utica interests
Wednesday, November 6, 2019
After losing $48.8 million, or 31 cents per diluted share, during the third quarter, Gulfport Energy announced plans to sell some of its interests in the Utica Shale, according to the Times Reporter.
The company made the announcement before its conference call with investors to discuss third-quarter earnings last Friday.
Gulfport said proceeds from its sale of non-operated interests would offset higher-than-anticipated spending this year in the Utica. It expected to have an agreement on the sale before the end of the year.
Learn more: Times Reporter > Gulfport Energy wants to sell some Utica interests
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.