Range Resources sets record lateral length in Pa.
Tuesday, June 20, 2017
The average lengths of laterals in the Marcellus Shale are six times longer today than they were when Range Resources started drilling. According to the Observer-Reporter, Range Resources recently set a record for the longest laterals in the Marcellus Shale in Pennsylvania, West Virginia, and Ohio.
The new record came in an effort to achieve greater efficiency. When Range Resources reached the milestone length of 15,000 feet it knew it was a company record but didn’t realize the mark surpassed all other drillers in the state.
Longer laterals can mean more natural gas production from fewer locations
Learn more: Observer-Reporter > Range Resources drills record-setting wells in Washington County
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How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
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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.
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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.