Shale production increases in Ohio during Q3 2019
Thursday, January 2, 2020
Natural gas and oil production increased in Ohio again during the third quarter of 2019, according to the Ohio Department of Natural Resources.
From the beginning of July to the end of September, that state’s horizontal wells produced 673,962,146 Mcf, or 673 billion cubic feet of natural gas, seeing a 9% production increase over the second quarter, according to the Farm and Dairy.
Meanwhile, oil production jumped 24% to 7.2 million barrels in the third quarter.
Learn more: Farm and Dairy > Natural gas and oil production jumps up in Ohio
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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.