Ohio’s Utica Shale records record quarterly production in 3Q
Friday, December 20, 2019
Oil and natural gas wells in Ohio’s Utica Shale produced record quantities during the third quarter of this year, according to the Ohio Department of Natural Resources.
Oil production increased by 29.8% in the third quarter to 7.20 million barrels (Mmbbl). Oil production in the Utica reached 5.55 Mmbbl during the same quarter in 2018.
Natural gas production increased 11.3% in the third quarter to 673.96 billion cubic feet (Bcf). During the same quarter in 2018, natural gas production in Ohio’s Utica Shale reached 605.72 Bcf.
The totals for both commodities at the end of 2019’s third quarter were new state records for quarterly production since reporting began in 2013, according to Kallanish Energy.
Learn more: Kallanish Energy > Ohio’s Utica Shale produces state record 3Q O&G
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.