Leasing of Mineral Rights

[tntrex]

just because one owns mineral rights doesn't mean they own executors either.

 

[Mad Professor]

just because one owns mineral rights doesn't mean they own executors either.

Rare for that in Oklahoma however.

 

[Mad Professor]

Also to the OP. The quality of the lease and the clauses included could be much more important than the bonus price paid when signing.

 

[ignerntbend]

Also to the OP. The quality of the lease and the clauses included could be much more important than the bonus price paid when signing.

Thank you

 

[Cinaet]

Just be sure about how much damage they'll do to the surface. Just be aware. Be aware any time you sign a contract.

Good advice. Best advice in this thread. Which is what you're doing. Good luck. Hope you make a bundle.

 

[okietool]

Surface rights have everything to do with mineral rights, because the only way to extract the minerals is from the surface.
A drilling rig has a LARGE footprint

And THAT depends on how you define LARGE
And wells are finite
There are normally stipulations in damage agreement made with the surface owner about restoring the location after the well is plugged.
In most cases the land is returned to the surface owner .
The damages are usually a multiple of what the land is actually worth.
Drilling rigs very seldom on location over 60 days anymore, except on multi well pads.
The locations are often times cutdown once the well enters the production phase.
I guess the best remedy would be, not to buy surface without minerals.
Most oil and gas producers compensate surface owners a lot more than market price for land.
And unless the commercial water rights have also been sold seperate, the surface owner can make more selling water than the land used in the foot print of a drilling rig can possibly produce.

For the OP, some oil companies are buying instead of leasing these days .
Do your research, decide which way you want to go.
And, the story about the mineral owner with 5 acres in section forcing an oil company to pay an outrageous price is not true.

 

[ignerntbend]

Oil companies are much like the goverment. They love you, and they have your best interests at heart.

 

[nofearfactor]

I cant go into that much about it because I dont really know enough about it to explain it all but what I do know is that what we get paid on ours- me, my mother, and my younger brother have land and proceeds from mineral rights in a trust from several counties- according to something called the Cushing NYMEX pricing.

 

[j-dubb]

Surface rights have everything to do with mineral rights, because the only way to extract the minerals is from the surface.
A drilling rig has a LARGE footprint

You are not helping anyone in this thread with your advice that you know very little about. Your information sounds like you heard it from a buddy that heard it from a buddy. Unless you produce oil and gas as a owner/operator you won't know the actual steps between surface owners and mineral owners and the actual producer. So there is no need to add what you "think" you know.

 

[ignerntbend]

Mien Got, everyone piles on poor ignernt for suggesting that the man takes a hard look at a piece of paper before he signs it.
Time for me to run and hide (again)