Chesapeake to place 40 wells into production in Utica
Wednesday, March 7, 2018
Chesapeake Energy Corp. announced plans to place 40 wells in eastern Ohio’s Utica shale into production this year, according to the Youngstown Business Journal.
In 2017, the company placed 67 Utica wells into commission. This year it plans to operate two drilling rigs in the Utica shale play.
Additionally, Chesapeake has plans for the Marcellus shale. It plans to place 55 wells into production, which is up from the 43 wells it placed into production last year.
Learn more: Youngstown Business Journal > Chesapeake to bring 40 Utica wells into production
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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.