U.S. rig count continues to fall
Monday, July 20, 2020
On Friday, Baker Hughes reported the number of oil and gas rigs in the U.S. fell by five to 253, marking the nineteenth straight week in the number of active rigs, according to OilPrice.com.
Compared to the same time last year, the active rig count is sitting at 701 fewer. Last week, the number of oil rigs decreased by 1, bringing the total to 180 — compared to 779 active rigs a year ago.
The total number of active gas rigs fell by 4, bringing the total to 71 total rigs — compared to 174 rigs a year ago.
Learn more: OilPrice.com > U.S. oil rig count falls for nineteenth straight week
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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.