EQT will drill in Upper Devonian shale in western Pennsylvania
Monday, August 1, 2016
EQT Corp. plans to drill 30 natural gas wells in the Upper Devonian shale formation online next year. Pittsburgh Tribune-Review reports that EQT will likely bring the wells online in 2017.
The Upper Devonian layer is above the Marcellus shale. Thirty-three Marcellus shale wells will be drilled while the Upper Devonian wells are drilled. Drilling in the Upper Devonian will help to keep drilling costs low since the formation is shallow.
Recently, EQT had been focusing on drilling wells in the deeper Utica shale.
Read more: Pittsburgh Tribune-Review > EQT to drill in more shallow rock layer as it tries to mitigate costs, up production
Related: EQT to pull back on drilling, spending in 2016 – Dec. 12, 2015
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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.