Shale drillers set to raise oil output in April
Friday, March 17, 2017
As higher oil prices have made drilling more profitable, United States shale producers have reacted accordingly. They will continue to increase their output in April, marking the fourth consecutive month that projections have been higher.
On Monday, the Energy Information Administration forecast net oil production will increase by 109,000 barrels a day at seven major oil and natural gas basins in April, collectively increasing output by 5 million barrels a day, according to CNBC.
The EIA has increased their monthly projections for U.S. shale output every month since December, when 11 oil exporters joined the Organization of the Petroleum Exporting Countries by making production cuts to balance the oversupplied crude market.
Learn more: CNBC > U.S. shale drillers set to raise oil output by 109,000 barrels a day in April
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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.