EV Energy Partners won’t drill new wells this year
Wednesday, March 2, 2016
EV Energy Partners is the latest company to announce that it won’t drill in the Utica shale — or any other shale formations — this year.
Akron Beacon Journal reports that the Texas-based company reduced its 2016 budget by 75 percent. EV Energy Partners is going to focus on its 10 drilled wells in Texas’s Barnett shale.
The company’s production was flat in 2015. According to the newspaper, EV Energy Partners sold its share of the Utica East Ohio pipeline, natural gas processing plants and a liquids processing plant in eastern Ohio.
Read more: Akron Beacon Journal > EV Energy Partners has no Utica drilling plans for 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.