Wayne National Forest leases eclipse $8M in lease sales
Monday, January 1, 2018
The Bureau of Land Management’s online auctions of lease rights to federal minerals in Wayne National Forest have eclipsed $8 million in sales, according to Energy in Depth Ohio. So far, there have been four sales, with the most recent occurring on December 14, which totaled $944,000.
The first two Wayne National Forest lease sales generated $1,515,110 for 12 Ohio counties, according to federal officials, who recently issued another round of checks for the December 2016 and March 2017 sales. They will receive their portions of the September and December sales next year.
The most recent sale included 350 acres in Monroe County.
Learn more: Energy in Depth Ohio > Wayne National Forest Auctions Rake in Over $8 Million in Sales
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
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.