New Contender in the Utica
Monday, April 22, 2013
According to the Oil & Gas Journal, Magnum Hunter Resources Corp., a Houston-based oil and gas production company, drilled a vertical pilot hole for the company’s first Utica shale well in Ohio.
The well is in Washington County, 30 miles south of Cambridge.
This comes at a time when other drillers, like Chesapeake Energy Corp., are slowing down drilling and in some cases placing acreage up for sale.
» Via: The Oil & Gas Journal› Ohio: Magnum Hunter spuds horizontal Utica shale well
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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.