Consol to bring 40 wells online this year
Saturday, July 30, 2016
At the end of 2015, Consol Energy Inc. halted construction on new shale wells, but now the company is ready to bring 40 new wells online, Pittsburgh Tribune-Review reports.
In August, Consol is expected to put two drilling rigs in Monroe County, Ohio, and one rig in Washington County, Pennsylvania.
The source reports that Consol isn’t increasing capital spending to return to drilling. The company is also planning to increase production.
Read more: Pittsburgh Tribune-Review > Consol to resume gas drilling in Utica, Marcellus shale
Recent Consol Energy news: Well production begins at Pittsburgh International Airport – July 22, 2016
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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.