Utica oil and gas production expected to increase in December
Tuesday, November 17, 2015
According to The Business Journal, oil and gas production across the U.S. shale plays is projected to drop next month, except for in the Utica shale and the Permian.
Reports from the U.S. Energy Information Administration indicate that natural gas output will rise from November’s projected average of 3.066 billion cubic feet (Bcf) per day to 3.132 Bcf per day in December.
Utica oil wells are expected to produce 79,000 barrels per day this month, and 80,000 barrels per day in December.
Via: The Business Journal > More Utica Shale Production Forecast in December
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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.