Ohio Tops 1,000 Utica Shale Permits
Friday, December 6, 2013
It’s happened: Ohio has officially topped 1,000 Utica shale permits, according to a report from the Ohio Department of Natural Resources.
Ohio has approved 1,006 Utica shale permits.
As of Nov. 30, 42 drilling rigs were operating in the state, with 250 wells in production.
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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.