Oil and gas production dips in Ohio’s Utica Shale during first quarter
Wednesday, June 5, 2019
During the first quarter of 2019, both oil and natural gas production in Ohio’s Utica Shale saw decreases from the fourth quarter of 2018, according to the Farm and Dairy.
The Ohio Department of Natural Resources Division of Oil and Gas Resources Management reported 5,073,536 barrels of oil and 609,452,391 Mcf (609 billion cubic feet) of natural gas were produced in the first quarter of 2019. Based on those results, natural gas production was down 8.8%, while oil saw a 12% drop when compared to the final quarter of 2018.
Although production dipped from one quarter to the next, when compared to the first quarter of 2018, both natural gas and oil production in Ohio’s Utica Shale saw increases. Natural gas production showed a 14.57% increase and oil production rose 28.69% over the same period a year earlier.
Learn more: Farm and Dairy > Ohio’s Utica Shale oil and gas production dips in first quarter
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.