Exploration and production down but infrastructure keeps going in Ohio
Sunday, May 10, 2015
Columbus Business First reports that the shale oil and gas industry is pushing ahead in Ohio, even though jobs have been cut and rig numbers have been slashed.
Pipeline projects are moving forward in eastern Ohio while exploration and production are slowing in the region. Columbus law firm Bricker & Eckler LLP keeps track of oil and gas development in the state’s Marcellus and Utica Shale plays. The law firm released a report detailing the projects that have been announced. Since fall 2014, almost $6 billion in projects have been announced.
One of those projects might come to eastern Ohio. In April, a Thai company chose Belmont County as a potential site for a future ethane cracker plant. If built, hundreds of jobs would be created.
Via: Columbus Business First > Oil and gas industry investing billions in Ohio infrastructure despite drilling slowdown
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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.