Federal government releases new offshore drilling standards
Monday, April 18, 2016
Six years after the Deepwater Horizon offshore drilling rig explosion and oil spill in the Gulf of Mexico, the federal government released standards that intend to prevent the risk of a similar disaster.
According to U.S. News & World Report, the Interior Department’s new standards address well control, including blowout preventers, well design, real-time monitoring as well as cementing and containment.
Read more: U.S. News & World Report > 6 Years After BP Spill, U.S. Issues Offshore Drilling Rule
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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.