Utica Shale discoveries expand border east
Sunday, September 7, 2014
There may be more to the Utica Shale than originally thought, according to Bloomberg.
In north central Pennsylvania, Royal Dutch Shell has found gas in two locations. Wells have been drilled there, over 300 miles from the Utica’s epicenter in Monroe County, Ohio.
Since several other oil and gas companies have stakes in the Utica, Shell initially didn’t release information about their new find in order to keep competitors at bay.
From Bloomberg:
“Shell, which has been selling gas assets in other parts of the U.S. to focus on its highest-profit prospects, said it owns drilling rights across about 430,000 acres in the discovery zone, an area five times the size of Philadelphia.”
Via: Bloomberg > Shell finds stretch stretch Utica Shale boundary many miles east
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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.
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.