Schlumberger business boosted by shale rebound
Wednesday, May 3, 2017
The recent United States shale rebound has spurred an increase in business for Schlumberger Limited, according to FuelFix.com. Responding to favorable prices, the company has begun redeploying idled fracking equipment back into U.S. shale plays and hiring workers.
Schlumberger CEO Paal Kibsgaard recently told investors that the drilling business has taken the lead in the industry’s recovery in the U.S. after crude prices stabilized at around $50 a barrel. The company plans to reactivate its entire fleet by the fourth quarter.
Oil field spending is expected to increase 50 percent this year.
Learn more: FuelFix.com > For Schlumberger, U.S. fracking business spurs hiring, prices
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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.
Is anything happening in Trumbul County ? With drilling ,or anything pertain to oil or gas.