Belmont County still Utica hot spot
Monday, March 12, 2018
Belmont County, located in the southern tier of Ohio’s Utica shale, continues to attract energy companies as the region’s oil and natural gas hot spot, according to The Youngstown Business Journal.
During the week of Feb. 24, 2018, the Ohio Department of Natural Resources issued nine drilling permits to three companies — Ascent Resources, Chesapeake Exploration and Rice Drilling. These companies are focused on developing deep horizontal wells in Belmont County.
Since November 2017, no new horizontal well permits have been issued in the northern tier of the Utica shale, which includes Columbiana, Mahoning and Trumbull counties.
Learn more: The Youngstown Business Journal > ODNR reports show Belmont County as Utica hot spot
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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.