Several eastern Ohio counties see more well sites popping up
Wednesday, February 10, 2016
In Belmont, Monroe and Harrison counties, Utica shale well sites are popping up even though rig counts continue to fall.
The Intelligencer / Wheeling News-Register reports that Consol Energy has been able to reduce drilling costs for dry Utica wells. During the third quarter of 2015, the company lost 28 cents per unit of natural gas, oil, liquids and condensate sold, but during the fourth quarter, Consol earned 33 cents per unit after cutting costs.
In Belmont County, new well sites are being constructed in Glencoe and St. Clairsville. A rig is operating near New Athens in Harrison County. As of Feb. 8, there are 14 rigs operating in Ohio.
Via: The Intelligencer / Wheeling News-Register > Consol Sets Natural Gas Production Record
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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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