West Virginia well puts state’s shale on the map
Saturday, October 18, 2014
It was once thought that West Virginia’s shale was too shallow to be economically viable for oil and gas companies, but one well is proving that assumption wrong.
The Intelligencer & Wheeling News Register reports that the Magnum Hunter Stewart Winland well in Tyler County, West Virginia is producing an average of 46.5 million cubic feet of natural gas per day.
The well is drilled more than two miles into the ground and then stretches about a mile horizontally. The Stewart Winland well may indicate that the rest of West Virginia’s Utica Shale is also productive.
Via: The Intelligencer & Wheeling News Register > Well Smashing Records
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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.