US oil,gas rig count decreases for first time in 2021
Monday, April 26, 2021
The US oil and gas rig count decreased for the first time this year, falling 11 to 530 during the week ended April 21, according to Enverus.
Oil rigs dropped 15 for the week, bringing the total to 404. Natural gas rigs gained four, bringing the total to 126.
The Permian Basin saw the biggest loss, shedding five rigs to total 231.
Learn more: S&P Global Platts > US oil, gas rig count drops for first time this year, losing 11 rigs
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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.