Oil production jumps in Columbiana County during first quarter
Thursday, June 15, 2023
Oil production increased 4,490% in Columbiana County during the first quarter of 2023, fueled by production from wells operated by EAP Ohio, a subsidiary of Houston-based Encino Energy Partners, according to The Business Journal.
EAP-owned wells produced 233,390 barrels of oil during the first quarter, accounting for all of Columbiana County’s production. Four wells in Hanover Township on the Mount pad were responsible for 228,058 barrels of oil.
EAP’s Mountz Cl Han 205H well produced 62,887 barrels of oil — the most from a single well in Columbiana County during the 90-day period, according to ODNR. Its production was followed by the pad’s 1H well with 61,125 barrels of oil; its 5H well with 47,400 barrels of oil; and the Mountz 3H well with 56,646 barrels of oil.
Columbiana County accounted for 3.5% of all oil produced in Ohio’s Utica/Point Pleasant shale during the first quarter.
The county’s recent increase compares to 5,084 barrels of oil produced during the fourth quarter of 2022.
Learn more: The Business Journal > Eureka! Columbiana County Strikes Oil
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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.