Pennsylvania and West Virginia dig in as rig counts increase
Tuesday, August 23, 2016
Over the past week, Pennsylvania saw two more natural gas rigs open, while West Virginia’s count rose by one.
According to the Pittsburgh Business Times, the influx comes as drillers and industry analysts are encouraged by the direction of the natural gas industry, which has seen thousands laid off nationwide as serious drilling reductions resulted from low natural gas prices.
Pennsylvania’s total increased to a total of 17, West Virginia climbed to eight and Ohio remained constant at 14, according to Baker Hughes’ latest data.
Learn more here: Pittsburgh Business Times > Two more rigs start working in Pennsylvania
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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.