Nine permits awarded to Utica Shale drillers
Monday, December 2, 2019
The Ohio Department of Natural Resources issued nine permits for drilling in the Utica-Point Pleasant shale play for the week ended Nov. 23, according to The Youngstown Business Journal.
Seven permits were awarded to Ascent Resources Utica LLC, which included four permits for wells in Nobel County and three for wells in Belmont County.
The remaining two permits were issued to Gulfport Appalachia LLC for wells in Belmont County
Learn more: The Youngstown Business Journal > ODNR awards 9 permits for Utica drilling
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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.