US oil reserves greater than Saudi Arabian and Russian reserves
Wednesday, July 6, 2016
The United States has surpassed both Saudi Arabia and Russia in terms of recoverable oil, CNBC reports.
Rystad Energy estimates that the U.S. has an estimated 264 billion barrels of oil from its existing fields, while Saudi Arabia has 212 billion barrels and Russia has 256 billion barrels.
According to the source, 2.1 trillion barrels of oil are considered recoverable worldwide, based on a three-year study by Rystad Energy.
Read more: CNBC > US oil reserves surpass those of Saudi Arabia and Russia
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How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
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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.
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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.