US oil, natural gas permitting falls 10% in January
Wednesday, February 17, 2021
Approvals for onshore oil and gas permits in the lower 48 fell by 10% in January with declines across all major basins, according to the most recent monthly statistics compiled by Evercore ISI.
Last month permit approvals decreased to 1,688 — a 10% decline month-over-month when compared to December.
Permitting in natural gas-focused plays fell 23%. The Marcellus Shale saw a decrease of 20% to 65. The Utica Shale saw a decrease of 70% to 11 after four straight months of gains.
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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.