One year ago on September 18^th, 2014 Ohio had 42 active rigs. They were spilt 50/50 in terms of oil and gas. There were 21 rigs drilling for oil and 21 rigs drilling for natural gas.

One year later Ohio has seen a dramatic drop in the number of rigs in the state. There are currently 19 active rigs in the area. 13 of which are drilling for natural gas, the remaining 6 drilling for oil. This is over a 50 % drop in the rig count for Ohio. The high drop in the number of active rigs is just as dramatic as the rest of the county in terms of percentage of active rigs. The rest of the U.S. saw the total number of rigs drop from 1931 to 842, approximately a 56% decrease. This extreme drop in the number of active rigs in the area, this would only delay the possibility of a landowner’s property actually being drilled and prolong the process to when they would actually receive royalties from production.

If you have any questions about how this affects the value of your minerals please contact vineroyalty.com