Trump administration seeks to help drilling industry under CARES Act stimulus package
Monday, April 27, 2020
The Trump administration wants to raise loan limits available under a coronavirus stimulus package and bar lenders from discriminating against drillers in an effort to ease a severe cash crunch in the drilling industry, according to Reuters.
Energy Secretary Dan Brouillette has been working with Treasury Secretary Steve Mnuchin to roughly double the size-limit on loans available to mid-tier U.S. energy companies under the recently passed CARES Act stimulus package to $200-$250 million to help them survive the fallout of the pandemic.
Brouillette and Mnuchin also plan to work with U.S. regulators and the banking industry to ensure financial institutions don’t discriminate against oil drillers when determining who receives credit.
Learn more: Reuters > Trump administration working to ease drilling industry cash crunch
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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.