People don’t often realize how big a role the oil and gas industry plays in our day-to-day life. Not only do they make up a good portion of the energy that sustains our way of life, but they both also make our lives easier and simpler in many different ways.
There are many different uses for crude oil and petroleum. Oils are often used as coolants for things such as electric transformers and machine lubricants. Many oils burn in a liquid or aerosol form and can generate light and heat, both of which can be converted into other forms of energy such as electricity. It is also the main source of fuel for vehicles throughout the world.
Oil can be converted into many different forms including butane, petrol, jet fuel, diesel fuel, and kerosene. Crude oil can be refined to u
Mineral rights can provide financial relief and are very lucrative when sold. While it may be tempting to immediately lease the minerals, there are many advantages and drawbacks that come along with leasing. There is always the chance that production will not start, the underlying minerals are not as rich as assessed, or a myriad of other possibilities that can make leasing a risk for the mineral owner. However, selling minerals outright will provide many advantages, but a person has to act swiftly to ensure that their minerals still retain their current value.
The Value Can Dissipate Fast
Minerals are valuable and production companies will act quickly if they believe that the minerals are of high value. Oftentimes, an estimate will be made and the potential buyer will offer a lar
How to Determine the Value of Oil and Gas Minerals on Your Property
Oil and gas minerals hold an immense value. While some owners of these minerals will jump at the chance to sell these minerals to the first buyer, others will want to know how to determine the value of oil and gas minerals for themselves. There are, however, many ways in which this is done.
Producing minerals will be those that are already producing a profit. If a mineral owner is currently drilling for oil and gas and are finding success, they will need to judge the value of their minerals based on their monthly income.
The typical value, in this case, is determined by multiplying your monthly income from the minerals times 36 – 72. This number will differ from one circumstance to a
Owning land does not necessarily equate to owning the mineral rights. While the majority of land sold will have mineral rights attached to the sale, there are cases when past sales have not included rights to the underlying minerals. Finding out who owns your mineral rights can be a daunting task in some cases. However, there are a plethora of methods that will allow you to determine if you are the owner of the minerals, or if another party retains the minerals.
Visit the County Clerk’s Office
The county clerk’s office will have records of all land sales that have taken place. These records will be the first stop in determining who owns your minerals. The goal is to locate the property owned and start chaining together the sale of the land with its mineral rights attached. Sta