What’s the latest on oil and natural gas production in Monroe County
Posted June 12, 2019
Oil plays a significant role in the history of Monroe County, Ohio. As noted on the county’s website, in the late 1800s an oil well in the area “opened up one of the largest pools in the nation”. By the early 1900s, Monroe was a booming area for oil—producing more than 55,000 barrels a month!
Today, more than a century later, Monroe County remains a notable national player when it comes to oil and gas production. Along with Belmont County and Jefferson County, Monroe County is one of the most active areas in the state of Ohio when it comes to drilling or producing wells.
From Woodsfield to New Martinsville to Sistersville, what is the current outlook for oil and gas production in Monroe County? And what does that mean if you are a mineral rights owner living in the county?
Where well activity is taking place in the county
Currently most of the drilling and well production in Monroe County is taking place in a couple of key hot spots. The first is the central-to-northern area of the county. The second is on the eastern side of the county, alongside the river (which is a heavy dry gas area). That’s where most of the activity seems to be going on right now and where most of the rigs are running.
Production should continue in the areas mentioned above into the near future. But there are also indications the county could see the development of additional wells at some point. The Business Journal reported recently that the Ohio Department of Natural Resources issued five new permits in April for wells in Monroe County to two different companies (Eclipse Resources and CNX Gas Company).
These permits do not necessarily mean drilling or production will begin on the wells anytime soon (drilling can be a slow and unpredictable process), but they do signal a level of continued interest in the area from oil and gas companies. All this is to say, we expect oil and gas drilling in Monroe County to remain steady throughout the remainder of 2019.
Another potential option for Monroe County landowners
Are you a landowner who owns mineral rights in Monroe County? If so, selling your mineral rights or royalties might be an option—providing your family a means of getting cash upfront rather than waiting for royalties to trickle in slowly over the months or years, or reducing your risk of a well that underperforms.
At Gateway Royalty, we purchase mineral rights and royalties from landowners for upfront payment. We’re based in Carrollton, Ohio, and have been working with landowners in Monroe County since 2013. There’s a good chance you’ve seen us buying a prize-winning goat or purchasing a champion steer at the Monroe County Fair over the years.
If you live in Monroe County and you’re interested in learning more about selling your mineral rights or royalties, reach out to Gateway today and let’s start a conversation.