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ExxonMobil Increases Domestic Acreage Position
The February 3, 2014 issue of “Rigzone” reports that in separate deals in the liquids rich Permian Basin and the gas prone Utica shale, ExxonMobil is increasing its commitment to domestic exploration and production. Through its subsidiary, XTO, an agreement with Endeavor Energy Resources has been reached, committing ExxonMobil to funding development of the Wolfcamp… Read More
Energy Industry Reacts to State of the Union Speech
The January 29 issue of “Rigzone” included a synopsis of President Obama’s State of the Union Address and the industry’s reaction to the energy aspects of the speech. The President correctly pointed out that for the first time in two decades, the United States is producing more oil than it imports. What he failed to… Read More
Why is the oil price on your Royalty checkstub less than published rates?
Like most commodities, crude oil is produced in widely differing “qualities.” For example, much of the crude oil produced in the field contains sulfur – sometimes in very high quantities. To refine this high-sulfur crude oil obviously costs more than for what is termed “sweet crude oil” and this incremental refining cost is deducted from… Read More
Mineral Ownership on the Moon?
As if mineral and royalty interest owners didn’t already have enough to worry about with declining oil and gas prices, high ad valorem taxes, delays in royalty payments and bankrupt oil and gas Operators, now comes the Romanian scientist Virgiliu Pop, with his latest scholarly work on who owns the land and minerals on, in… Read More
How to Sell Mineral Rights
1) Have your property surveyed for mineral content. Look under Natural Resources in the U.S. Government Offices section of your phone book for a geologic survey. 2) Separate the various types of minerals evident on your property. Instead of leasing the rights to all minerals to one company, specify which minerals they can claim. Have an… Read More
