Lime Rock Resources purchases 350,000 acres in Appalachian Basin
Thursday, August 1, 2019
The buyer has been revealed in Range Resources’s $634 million sale of assets in the Appalachian Basin, according to Oil & Gas 360. Lime Rock Resources made the purchase last week.
Lime Rock Resources, the E&P arm of private equity firm Lime Rock Partners, acquired a non-operated overriding royalty interest in 350,000 net surface acres of the Marcellus Shale.
The transaction represented the company’s first procurement in the Appalachian basin.
Learn more: Oil & Gas 360 > Buyer revealed in Range’s $634 million Appalachian asset sale
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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.