West Virginia well’s 2014 output could power 77,322 homes for one year
Wednesday, January 20, 2016
In Wetzel County, West Virginia, a single EQT Corp. well produced enough gas in 2014 to provide electricity to 77,322 homes for one year. The Intelligencer / Wheeling News-Register reports that this well was the state’s most productive in 2014, yielding 3.18 billion cubic feet of natural gas.
In 2014 alone, West Virginia produced more than 1 trillion cubic feet of natural gas with both vertical and horizontal wells. The state’s oil wells produced 5.2 million barrels of oil in 2014, too.
While some drillers have continued to produce during the downturn in order to fulfill lease requirements, mineral rights owners may have noticed significant decreases in their royalty payments. Industry leaders are optimistic about the market’s future, though.
Via: The Intelligencer / Wheeling News-Register > W.Va. Production Numbers ‘Shocking’
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What are mineral rights?
Mineral rights are the rights of the owner of the property to mine or produce any resources below the surface of the property. Mineral rights are different from surface rights.
Will I get free natural gas if I allow fracking on my property?
Maybe. It depends on your particular lease agreement. Some companies allow property owners a yearly free gas allowance. But, the process of connecting your property to the gas source may be more complicated. Some companies will provide a hookup, others require the landowner to provide one.