Proposed Atlantic Coast Pipeline gains approval from North Carolina
Wednesday, October 29, 2014
The proposed Atlantic Coast Pipeline that would transport natural gas from West Virginia into Virginia and North Carolina has gotten approval from the North Carolina Utility Commission.
Pittsburgh Business Times reports that the pipeline has yet to gain approval from the Federal Energy Regulatory Commission (FERC), but if it does, the pipeline will be able to transport an estimated 1.5 billion cubic feet per day of natural gas.
The project will cost between $4.5 billion and $5 billion dollars to construct.
Via: Pittsburgh Business Times > Dominion pipeline project secures permission from North Carolina Regulators
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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.