CNX to spend about $800M in Marcellus, Utica shale regions
Monday, January 22, 2018
CNX Resources plant to spend between $790 million and $880 million on drilling in the Marcellus and Utica shale plays this year, adding a fourth drilling rig in the second half of the year, according to the Pittsburgh Business Times.
The company is expected to drill 75 wells in 2018. Sixty will be situated the Marcellus shale play in Pennsylvania and West Virginia and the remaining 15 will be in the Utica in Pennsylvania and Ohio.
This year the CNX expects to produce anywhere from 520 billion cubic feet to 550 billion cubic feet of natural gas, which is up 30 percent from the year before.
Learn more: Pittsburgh Business Times > CNX plans to spend about $800M to drill in 2018
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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.