Utica Shale activity to stay consistent in Ohio
Monday, April 15, 2019
Oil and gas companies have drilled more than 2,500 horizontal shale wells in Ohio, and according to Richard Simmers, chief of the state’s Division of Oil and Gas Resources, things are going to stay pretty consistent — at least for the next couple of years.
Last year, oil and gas companies drilled 358 new horizontal shale wells in Ohio’s Utica Shale, according to the Akron Beacon Journal. Simultaneously, drillers produced 2.35 trillion cubic feet of natural gas from wells in Ohio’s utica Shale.
The state has gone from producing less than 14 percent of the natural gas it consumed in 2011, to producing more than twice what it used last year.
Learn more: Akron Beacon Journal > Ohio’s Utica drilling numbers staying consistent
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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.