Lawrence County to receive more than $1M in share of Pennsylvania’s shale revenue
Tuesday, June 16, 2015
According to New Castle News, Lawrence County will receive a share of Pennsylvania’s drilling impact fee revenue, totaling $1,082,186.25.
The county will receive $444,395.53. 27 municipalities will receive revenue from the impact fee.
The Marcellus Shale impact fee legislation imposes a fee on every natural gas well in Pennsylvania. Each year’s levy is dependent upon natural gas prices and the Consumer Price Index. The revenue from the impact fee is collected by the Public Utility Commission. The revenue can be used for roads, public safety, environmental programs and other local and county efforts.
Via: New Castle News > Marcellus Shale revenue coming to county
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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.