Oxford Oil Company Purchased By Eclipse Resources
Thursday, June 27, 2013
STATE COLLEGE, Pa. — Eclipse Resources announced today that it has acquired The Oxford Oil Company, LLC, with approximately 184,000 net acres in Ohio.
Prior to the acquisition, Eclipse Resources owned approximately 41,000 net acres in Belmont, Guernsey, Monroe and Noble Counties in Ohio.
With the acquisition of Oxford, Eclipse Resources now owns approximately 90,000 net acres in these core Utica Shale counties, as well as in Harrison County, Ohio.
About Eclipse Resources
Eclipse Resources is a State College, Pennsylvania, based oil and gas company focused on the acquisition, exploration and development of unconventional oil and natural gas properties in the Appalachian Basin, including the Utica Shale and Marcellus Shale. The company was founded in 2011.
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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.