Third quarter shale production highlights Ohio’s 22 drillers
Friday, December 11, 2015
Statistics from the Ohio Department of Natural Resources are in and Columbus Business First has the rundown of the 22 companies that produced oil and natural gas during the third quarter this year.
Rice Energy comes out on top with the number one producing well located in Belmont County. The Mohawk Warrior 8H well produced 1.8 billion cubic feet of natural gas during the third quarter.
While commodity prices have dropped, production hasn’t slowed. The newspaper shares that production so far this year is greater than in 2014.
Via: Columbus Business First > Here are the top wells from all 22 Ohio oil and gas drillers
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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.