Texas Mineral Rights
Lets share Knowledge and Experience of how we are being affected on a personal real estate level and business level with buyers and sellers regarding Mineral Rights. Texas, oil, gas and mineral law is exceedingly complex and has a deep history. Would you BUY a house by a well or pipeline? How would selling a home while a WELL is being DRILLED affect the property? It is my understanding that according to real estate property law, 2 forms of rights exist in real property: surface rights and mineral rights" What about Sub-surface rights/". Surface rights refer to any structure erected above the surface or sub-surface structures which do not exceed certain depth, and rights to use all surface property surrounding structures in according to zoning ordinances in your town,city etc . It is my understanding that Mineral rights refer to mineral substances below a certain depth and the way in which they are preserved, explored or extracted. It is my understanding that these mineral substances can include natural gas, oil, or any other substance in common use today that can be mined or extracted from below the surface. It is my understanding that laws set the depth below which surface rights terminate and mineral rights exist. It is my understanding that in the Dallas/Fort Worth area, as sections of the Barnett Shale are running under Fort Worth have been found to hold large stores of precious minerals, and oil and gas companies are moving quickly to act on those stores. Is Cherokee Horn is most likely going to "flip" the site and will not actually do the drilling? Will there be a 3rd party involved? How long does Drilling a well take approximately 30 days or more and what are the costs? Will each site have multiple wells? (How many?). Doe your Town or CIty have ordinances regarding gas drilling? What happens if the owner/seller of the property signed a contract? Financial rewards ? Taxes? Verification of who owns the mineral rights and what percentage? Don't rush to sign anything. What issues might Homeowners associations face? Access Pipeline easements Environmentally sensitive/ floodplain areas Proximity to occupied residences The financial ramifications of drilling on site if surrounding neighborhoods don't sign leases Is Cherokee Horn is most likely going to "flip" the site and will not actually do the drilling? Will there be a 3rd party involved? Have any of the three leases applied for a permit from the town or city? Will Drilling a well take approximately 30 days or more and what are the costs? Will each site have multiple wells? (How many?). Doe Flower Mound's ordinances regarding gas drilling? What happens if the owner signed a contract? Financial rewards ? Taxes? Leases can also be negotiated that can include quality of life and environmental controls and provisions. Surface use provisions Mortgage company requirements, Owners may need to notify lenders and could be charged fees if applicable. The competitive nature of the gas leasing industry Verification of who owns the mineral rights and what percentage? Provide assistance and direction to HOA's to organize a community wide evaluation and response to current and future lease offers, including assistance with the performance of pertinent research on issues. Attend meetings of organizational groups and coordinate presentations to home owner groups and town officials as required. Advise and assist with education and understanding of gas leasing issues and leasing and drilling activity. Review and advise on relevant background, history and experience of drilling companies involved. Assist with negotiations with driller(s) and/or landmen in gas leasing matters. Review proposed lease forms and advise on suggested changes. Prepare lease addendum to address needed changes in terms and provisions in lease. Assist in organization of neighborhood lease signings.
Founder: Suzy Britz
Founded: 03/20/2008
Subscribers: 10
Posts:
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