Leases extended in some West Virginia counties
Wednesday, January 13, 2016
Southwestern Energy is extending hundreds of Marcellus shale natural gas leases in West Virginia, The Herald-Star reports. Lease extensions were seen in Ohio County and Marshall County records.
In 2014, Southwestern purchased the leases from Chesapeake Energy for $5 billion. Southwestern is encouraged by infrastructure development during the downturn in prices and is confident of the industry’s future once prices turn around.
During the third quarter of 2015, the company produced 37 billion cubic feet of natural gas in its 443,000 acres of West Virginia and southwestern Pennsylvania.
Via: The Herald-Star > Firm will extend regional shale leases
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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.