Noble, Consol split Marcellus shale asset
Monday, November 14, 2016
On Oct. 31, Consol Energy Inc. and Noble Energy Inc. announced their agreement to separate they joint venture, Cone Midstream Partners LLP, according to the Pittsburgh Business Times.
Formed five years ago, Cone was created for the exploration, development and operation of Noble and Consol Marcellus Shale Properties in Pennsylvania and West Virginia.
The new agreement splits ownership interests of the Marcellus acreage with Consol receiving 306,000 acres and Nobel getting 363,000 acres.
Learn more: Pittsburgh Business Times > Noble, Consol agree to split Marcellus joint venture
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
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.