Breaking: Kasich signs drilling law
Tuesday, June 12, 2012
The Business Journal reported that Governor John Kasich of Ohio signed into law the state’s energy policy and, with it, regulations governing shale gas exploration in the state.
The legislation updates the Department of Natural Resources’ procedures regarding proper well construction. It also requires that all chemical compounds in the fracturing fluid be disclosed to doctors and other medical professionals.
» Via: The Business Journal.
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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.