Antero buys Utica and Marcellus acreage in three West Virginia counties
Tuesday, June 14, 2016
West Virginia landowners in Wetzel, Tyler and Doddridge counties leased their shale drilling rights for as little as $5 per acre, but now that land sold for $8,182 per acre, The Intelligencer / Wheeling News-Register reports.
Antero Resources purchased 55,000 acres of Utica and Marcellus shale drilling rights from Southwestern Energy Co. According to the source, 41,000 of the total acreage contains rights to both the Marcellus and Utica shales.
Southwestern had purchased the acreage from Chesapeake Energy two years ago for $5 billion.
Read more: The Intelligencer / Wheeling News-Register > Antero Buys Southwestern Acreage for $450M in Wetzel, Tyler counties
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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.
What happened to EQT in green county, have they bailed out??