Utica and Marcellus drillers return to the field cautiously
Friday, August 26, 2016
Oil and gas companies are carefully returning to drilling, looking for those areas where they can get the most out of their money. However, this looks different from company to company, according to Pittsburgh Post-Gazette PowerSource.
EQT Corp., for instance, is focusing on the Upper Devonian and Marcellus shales in southern Allegheny, eastern Washington and Greene counties, while Consol Energy Inc. will focus on Monroe County, Ohio’s dry Utica shale and the Marcellus shale in Washington County, Pennsylvania.
Overall, drillers are easing back into drilling and waiting for prices to rise and demand to increase while the industry’s economics improve.
Read more: Pittsburgh Post-Gazette PowerSource > Ramping up is a different formula for each driller
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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.