Sad News From The South 40

[storch]

And once again, you take me too seriously.

liberals have no sense of humor

[Shuckins]

rpm....oil baron....and double-naught spie.

[bcadoo]

rpm....oil baron....and double-naught spie.

Only if he still has the mineral rights.  Not uncommon to own the land and not the rights.

[uptown]

Only if he still has the mineral rights.  Not uncommon to own the land and not the rights.

I have three properties that I own the land to but not the coal underneath. That's always bothered me.

[storch]

why would you allow that?

[Reschke]

It is not uncommon at all to not own the mineral rights to a property. It just means that they only pay you a smaller fee in order to access the minerals.

[lazs2]

yep.. pretty common to not own the mineral rights especially on smaller plots of land.   Makes sense if you think about it.. someone owns a thousand acres and sells off 100 in the middle to a developer to build homes on little 5 acre plots..   If he finds oil on his land he gets into a legal issue with a bunch of little lot holders.

When I was a kid in LA we had an oil well at the end of the block... every one of the families on the block got some little check every month for their portion.

Now, where I live.. there is natural gas and most of the farmers do not own mineral rights or own full mineral rights (whatever that is) so they get a check that is nothing like the drillers.. they get a little more if the well is actually drilled on their property.

lazs

[Meatwad]

Well to be honest, that ain't hard to do.
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I'll forgive you if you strike oil

[wrongwayric]

On the serious side, do you own the mineral rights on your property? I'd be checking real quick before i let them do any searching on my property. If you don't own the rights then if they discover something your left out.

[CptTrips]

Since you've mentioned before you had oil wells on your property I'm going to assume you have at least partial mineral rights.

However in Texas it is not at all uncommon for for land owners not to have their mineral rights.  And at least in Texas, mineral right USURP surface rights.

To fully understand what this means, image I've purchaced a nice little plot of land for a quiet weekend getaway, with a nice view, built a cabin and am all settled in.  But when I purchaced the land I didn't get the mineral rights.  All of the sudden one day, I'm sitting on my porch drinking a beer and trucks and bulldozers pull on to my land and start bulldozing a a rig pad.  They could put the dang thing right in front of my cabin and there is not a dang thing I coud do to stop them.  Mineral right OVERRIDE surface rights.  Somewhere some dork is getting rich off a well while I'm screwed and I won't get a dime (Well you will get a one time compensation for property damage but no royalties).  


Wab

[rpm]

Just to clarify, yes I do own the mineral rights.

Say, which of these do you think looks better on me?

[Bronk]

Just to clarify, yes I do own the mineral rights.

Say, which of these do you think looks better on me?
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Better on you...... definitely the purple.

[SteveBailey]

Go with the purple, it more clearly screams "ghey"     

As if the white outfit isn't ghey enough.

[CptTrips]

Just to clarify, yes I do own the mineral rights.

Say, which of these do you think looks better on me?
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I think they are both "you".

You mentioned that your current well were going dry.  Are they looking for gas?

I have 15ac southwest of Ft Worth.  I'm just at the Western edge of the Barnett Shale.  I just signed a gas lease.  Don't know if they'll ever drill or not.  They maybe just buying up leases because they have money to throw around right now.

Good luck. 

Wab

 

[rpm]

I'm sure they are searching for or mapping the Barnett. If you have signed a lease, it's more likely than not they will drill. They are going to frac the Barnett like there's no tomorrow.