Upstream investments in Ohio’s Utica rebounded last year
Friday, June 17, 2022
Ohio’s natural gas and oil producers spent about $2.2 billion during the first half of last year on upstream investments, making up a majority of the $2.3 billion spent in the Utica Shale, according to Natural Gas Intelligence.
The amount invested was around a $361 million increase over the last half of 2020. The rising gas and oil prices during the period helped boost royalties paid to the state, which accounted for more than $1 billion of the investments tracked during the period.
The top six producers during the first half of 2021 made up around 89% of the total production, according to Ohio Department of Natural Resources data. Acent Resources Utica Holdings LLC was the top producer during the period, with 389 Bcf, followed by Encino Energy LLC with 196 Bcf and Gulfport Energy Corp. at 173 Bcf.
Learn more: Natural Gas Intelligence > Upstream Investments in Ohio’s Utica Saw Post COVID-19 Rebound Early Last Year
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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.