Camp Ends Gas Leasing Moratorium
Monday, June 3, 2013
The Pittsburgh Presbytery ended a year long shale gas development moratorium on its Crestfield Camp & Conference Center property, near Slippery Rock Pennsylvania, according to the Pittsburg Post-Gazette.
The reversal of the moratorium, which lasted for a year, could allow the construction of a pipeline across the property. The decision came during a May 9 meeting where 230 voting members of the Presbytery cast votes.
According to the Pittsburgh Post- Gazette, approximately one-third of the Presbytery voted in favor of renewing the moratorium.
Get the whole story at the Pittsburgh Post-Gazette.
» Via: The Pittsburgh Post-Gazette › Pittsburgh Presbytery ends ban on shale gas leases
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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.