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The Water Cooler
General Discussion
Leasing of Mineral Rights
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<blockquote data-quote="okietool" data-source="post: 2192253" data-attributes="member: 6030"><p>And THAT depends on how you define LARGE</p><p>And wells are finite </p><p>There are normally stipulations in damage agreement made with the surface owner about restoring the location after the well is plugged.</p><p>In most cases the land is returned to the surface owner .</p><p>The damages are usually a multiple of what the land is actually worth.</p><p>Drilling rigs very seldom on location over 60 days anymore, except on multi well pads. </p><p>The locations are often times cutdown once the well enters the production phase.</p><p>I guess the best remedy would be, not to buy surface without minerals.</p><p>Most oil and gas producers compensate surface owners a lot more than market price for land.</p><p>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.</p><p></p><p>For the OP, some oil companies are buying instead of leasing these days . </p><p>Do your research, decide which way you want to go.</p><p>And, the story about the mineral owner with 5 acres in section forcing an oil company to pay an outrageous price is not true.</p></blockquote><p></p>
[QUOTE="okietool, post: 2192253, member: 6030"] 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. [/QUOTE]
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