Noble Energy cuts back in Marcellus Shale
Wednesday, August 5, 2015
As is the case with other drilling companies, Noble Energy reported record natural gas production during the second quarter at 427 million cubic feet.
However, Pittsburgh Business Times reports that the company is cutting back on rigs shared on joint ventures with Consol Energy. By the end of the year, one rig operated by Noble will be cut and two rigs operated by Consol will be offline.
Noble’s second quarter losses topped $109 million. The company’s second quarter revenue totaled $730 million, down from $1.4 billion in 2014.
Via: Pittsburgh Business Times > Noble cuts back on drilling in the Marcellus Shale
More Noble Energy news:
- Noble Energy acquires Rosetta Resources July 24, 2015
- Noble Energy cuts positions in southwestern Pennsylvania April 19, 2015
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.