US oil, gas rig count at its lowest since 2017
Wednesday, January 8, 2020
The U.S. oil and gas rig count decreased by four last week to 836, which is the lowest total in nearly two years, according to Enverus.
Total crude oil rigs were down three to 670 during the week ended Jan. 1. Meanwhile, natural gas rigs increased by one to 163. Rigs not classified as oil or gas dropped two.
The total domestic rig count has decreased by over 400 rigs (32%) since peaking at 1,237 in November 2018. This year alone, the U.S. rig count fell 27%, starting at 1,145 and shedding 309.
Learn more: S&P Global Platts > US oil, gas rig count down by 4 to 836, lowest since early 2017: Enverus
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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.