Industrials
Pa. homeowners net $1.2M in gas-drilling royalties
The Associated Press
03/09/09 - 05:13 PM EDT
HARRISBURG, Pa. (AP) A leading company drilling on the Marcellus Shale natural gas formation in Pennsylvania says it handed out nearly $1.2 million in royalty checks last week.
Range Resources Corp. spokesman Matt Pitzarella said Monday the distribution is the first significant royalty the company has paid from its 120-plus Marcellus shale wells.
People in the exploration industry say they haven't yet heard of such a large distribution of royalties from Marcellus shale gas wells in Pennsylvania.
The money went to 31 landowners who have wells on or near their land and live near Range's gas-processing plant about 20 miles south of Pittsburgh.
Pitzarella wouldn't identify them, although he says one farmer received a check for more than $357,000.
The landowners were paid for production in November and December.