Bureau of Land Management postpones lease sales for drilling
Friday, February 19, 2016
TIME reports that the U.S. Bureau of Land Management (BLM) has postponed several auctions that would have allowed more land to be drilled for oil and gas.
While the U.S. oil and gas industry may suspect that politics have factored into the BLM’s decisions to postpone these lease sales, the BLM states that the postponed sales are just routine. The source says that each BLM region must hold a lease sale each quarter.
Environmental activists, who oppose oil and gas drilling because of greenhouse gas emissions, are happy that the sales have been postponed.
Read more: TIME > How a Little-Known Federal Agency Has Slowed New Oil and Gas Drilling
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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.
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.