US oil, gas rig count hit 806 — highest since April 2020
Wednesday, May 18, 2022
The U.S. oil and natural gas rig count gained three rigs during the week ended May 11, bringing the total to 806 — the highest it’s been since April 2020, according to Enverus.
Both oil and natural gas plays in the eight largest domestic unconventional basins gained rigs. Oil rigs rose by two to 623 and natural gas rigs added one to 183.
The Permian Basin saw the biggest change, gaining four oil rigs to total 329. The Marcellus Shale added one natural gas rigs to total 45.
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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.