Rig count falls again
Sunday, March 6, 2016
As of March 2, there were 502 active drilling wells in the U.S. That count could soon fall to its lowest since 1948, according to Bloomberg.
The Baker Hughes rig count for March 4, 2016, shows that the count fell to 489, down 13 from the previous week. A year ago, the rig count sat at 1192.
There aren’t consistent drilling records prior to 1948, but experts believe that the current level of drilling could be reduced to that of 1859, when Pennsylvania’s oil rush began.
Read more: Bloomberg > Oil and Gas Drillers in the U.S. Ready to Party Like It’s 1859
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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.
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.