Seneca Resources to explore oil and gas development on Pa. game lands
Monday, April 18, 2022
An agreement between the Pennsylvania Board of Game Commissioners and Seneca Resources Company will allow the company to develop oil and gas interests on State Game Lands in Tioga County, according to NorthcentralPA.com.
The arrangement includes a $730,500 bonus payment and royalties paid to the commission over the 10-year term of the agreement. The money will be directed to the Game Fund.
Seneca Resources will explore about 409 acres of state game lands 313 in Delmar and Chatham townships.
Learn more: NorthcentralPA.com > Gas company to explore state game lands in Tioga County
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Shale FAQ
How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
Are my royalty payments transferable?
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.