Oil production cut extended to March
Wednesday, May 31, 2017
OPEC and other oil-producing nations have extended their output cuts for nine more months to prop up prices, according to PennEnergy.
The agreed on reductions of 1.8 million barrels a day will stay in place until March, OPEC and non-OPEC ministers decided last week.
The limited-production alliance between OPEC and non-OPEC countries faces competition from U.S. shale producers. Many drillers have returned to the market since crude prices have risen to over $50 a barrel. The continued upswing could increase supplies and push down prices as even more are set to resume operations.
Learn more: PennEnergy > The Latest: OPEC, other nations extend output cut to March
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How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
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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.
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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.