Chesapeake loses in second quarter, but keeps one Utica rig
Monday, August 8, 2016
Chesapeake Energy reported a $1.75 billion loss for the second quarter of 2016, Akron Beacon Journal reports. Last year, Chesapeake lost $4.2 billion during the same quarter in 2015.
The Oklahoma City-based company has more than 600 Utica shale wells in Ohio, and intends to operate one drilling rig in the state this year.
Across other U.S. shale plays, Chesapeake has nine additional drilling rigs. The company will drill 100 more wells in 2016 and will put 75 wells into production, according to the source.
Read more: Akron Beacon Journal > Chesapeake Energy loses more than $1.7 billion, will continue drilling in Utica Shale
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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.
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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.