Oil production jumps 9.5% in Ohio’s Utica Shale
Thursday, September 5, 2019
In the second quarter of 2019, oil production in Ohio’s Utica Shale jumped 9.5%, according to data released by the Ohio Department of Natural Resources on Tuesday.
Oil production totaled 5,813,755 barrels in the second quarter, which is an increase over the 4,488,104 barrels during the same period a year ago, according to Kallanish Energy.
Oil production in Ohio’s Utica Shale during the first quarter totaled 5,073,536 barrels.
Learn more: Kallanish Energy > Oil production increases 9.5% in Ohio’s Utica Shale
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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.