Rex Energy keeps drilling Utica wells despite first quarter loss
Saturday, May 14, 2016
During the first quarter of 2016 in Carroll County, Rex Energy drilled two wells, fracked one well and put four wells in production, even though the company posted a loss of $62.2 million during the three month period.
The Repository reports that Rex intends to choke back wells in the coming months as low commodity prices persist.
In the past four years, Rex has drilled 37 Utica shale wells in Ohio. The company is part of a joint-venture agreement with Benefit Street Partners that will allow it to continue developing its Utica acreage in Carroll County.
Read more: The Repository > Despite $62.2M loss, Rex Energy still drills in Carroll County
Related: Rex Energy to partner with New York-based credit manager for new wells in Ohio, Pennsylvania – March 8, 2016
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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.