Rig counts decrease in Pennsylvania, Ohio; 2 added in West Virginia
Thursday, August 13, 2015
Pennsylvania’s rig count dropped three last week, according to Pittsburgh Business Times.
Baker Hughes weekly rig count lists 39 rigs in Pennsylvania as of Aug. 7, 2015, down from 42 the week prior. In Ohio, there were 20 rigs operating as of Aug. 7, 2015, down one from July 31. West Virginia’s total number of rigs stood at 19 on Aug. 7, 2015, up two from the previous week.
Compared to August 2014 rig counts, Pennsylvania, Ohio and West Virginia are down 12, 23, and 7 rigs, respectively.
Via: Pittsburgh Business Times > Pennsylvania’s drilling rig count declines
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Depending on the company, royalty payments can arrive monthly or quarterly.
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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.
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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.