Pennsylvania House Bill calls for monthly unconventional production reports
Saturday, October 25, 2014
A bill requiring unconventional well owners to provide monthly production reports is a step closer to coming into effect, according to Natural Gas Intelligence.
House Bill 2278 was proposed so that landowners could make sure that they received correct royalty payments in accordance with well production.
In addition to monthly production, unconventional producers would have to report each well’s status. As of now, unconventional producers are required to provide production reports twice yearly, and only report the status of a well if it changes.
From Natural Gas Intelligence:
“The DEP would post the reports on a website accessible by the public, and the costs would be paid by fees collected by the departments.”
Via: Natural Gas Intelligence > Pennsylvania Legislature Passes Bill Calling for Monthly Unconventional Production Reports
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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.