Trump signs order to expand offshore drilling
Thursday, May 4, 2017
Last week President Donald Trump signed an executive order to expand offshore drilling in the Arctic and Atlantic Oceans, and decide whether energy exploration can occur in marine sanctuaries in the Pacific and Atlantic oceans, according to The Washington Post.
Although Trump moved to open up offshore drilling, administration officials believe it would take years to rewrite federal leasing plans. Additionally, global energy prices may deter investors from drilling in the Arctic Ocean any time soon.
Interior Secretary Ryan Zinke believes it would take about two years to assess what new areas could be put up for auction.
Learn more: The Washington Post > Trump signs executive order to expand drilling off America’s coasts: ‘We’re opening it up.’
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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.