Exxon Mobile doubles holdings in Permian Basin
Thursday, January 26, 2017
The biggest publicly traded energy company in the world doubled its holdings in the Permian Basin last week, according to CNBC.
Exxon Mobil announced it will pay $5.6 billion in stock to acquire assets previously owned by Texas’ Bass family, located in the Delaware Basin and part of the larger Permian Basin. With the purchase, Exxon adds acreage with an estimated 3.4 billion barrels of oil equivalent to its current holdings.
The acquisition is the largest oil and gas deal in the United States since November 2014, when crude prices crashed.
Learn more: CNBC > Exxon Mobil doubles its oil and gas holdings in the Permian Basin for $5.6 billion
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How often do royalty payments come?
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.