Eastern Ohio energy companies see production increase
Wednesday, June 21, 2017
Eastern Ohio energy companies experienced a production increase of 13 percent through the first quarter this year, totaling 372 billion cubic feet of natural gas, according to Columbus Business First.
The Ohio Department of Natural Resources’ latest figures show that the Utica Shale natural gas industry is continuing to recover. Meanwhile, oil production keeps declining.
Belmont County and Monroe County account for the most activity, housing the top 20 gas wells. Eclipse Resources owns the five most productive wells and Gulfport Energy owns the next seven of them.
Learn more: Columbus Business First > Eclipse Resources, Gulfport Energy lead the way as Q1 drilling rebounds in Ohio
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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.