Ohio gained one rig last week
Wednesday, June 1, 2016
As of May 27, there were 11 rigs operating in Ohio, up one from May’s monthly average, Pittsburgh Business Times reports.
The most recent Baker Hughes rig count for Pennsylvania shows 16 rigs are operating, which has been steady throughout May. West Virginia’s rig count has remained steady at 10 rigs.
Nationally, there are 404 rigs operating, down from 875 a year ago, but the total number remained the same from the May 20 count.
Read more: Pittsburgh Business Times > Rig count stabilizes nationally, increases regionally
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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.