Oil and gas companies continue to focus on exploration, despite climate concerns
Monday, July 10, 2023
Oil and gas companies continue to search for new deposits, reinvesting record profits that resulted from the fossil fuel price surge driven by the Ukraine war, according to Reuters.
The revival in oil and gas exploration reflects an industry shift toward recommitting to oil and gas and slowing plans to invest in renewables as part of the energy transition. It also responds to pressure from investors to maximize profits rather than invest in lower margin renewable energy.
The record profits driven by Russia’s invasion of Ukraine has translated to increased offshore exploration as it can deliver the highest rewards.
Learn more: Reuters > Focus: Oil giants drill deep as profits trump climate concerns
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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.