Chief Oil & Gas to close Wexford office
Monday, September 7, 2015
Since 2006, Dallas-based Chief Oil & Gas has been acquiring land in Pennsylvania’s Marcellus Shale region for drilling. Now, the company is closing one of its regional offices at the end of next month.
Pittsburgh Business Times reports that Chief’s Wexford office, located north of Pittsburgh, is closing. The Montoursville regional office in Lycoming County will remain open.
A spokeswoman from Chief told the newspaper that the decision to close the Wexford office was due to efficiency and communications reasons. The statement did not indicate that the company will be leaving the Marcellus area.
Via: Pittsburgh Business Times > hief Oil & Gas closing its Pittsburgh-area regional office
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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.