Barnett Shale Oil and Gas Royalties
Minerals Management Service is too lax in its oversight of oil and natural gas leases on public lands have found some kindred spirits on Capitol Hill. The agency, an arm of the Interior Department, has been in charge of issuing leases for oil, gas and other resources on both the outer continental shelf (undersea) and on-shore federal and Indian lands for the last quarter of a century. Mineral interests and royalty interests are similar in that both involve ownership of minerals under the ground. They both receive a portion of the income from the production of oil and gas. Mineral rights transactions are normally a matter of public record and copies of deeds or other agreements are filed at a government office. Real estate buyers should ask the seller to specify what rights are being conveyed and have an attorney confirm that the seller owns what is being sold.
Information on the oil valuations regulations and on how to submit comments is available at the MMS Royalty Management Program website. Information on this website is not intended to be a solicitation of any kind. Investing in real estate and oil and gas is highly speculative and could result in substantial losses.
Companies engaged in exploration and development of oil and gas resources do so under terms of concessions, leases, or contracts granted by governments or other resource owners. The terms and conditions of such arrangements are established by law or negotiated on a case-by-case basis. Companies sign five-year leases, and the state has the option of doing two one-year extensions. Schauer said he’s concerned about wells where oil has been found but isn’t being pumped.
Congress has also been considering legislative actions to recoup foregone royalty revenues on these leases or to encourage companies to negotiate with MMS. Congress needs to take care of their contributors, to be crude (double entente) the vote may have had more to do with protecting our Oil Companies desired assets than taking care of our military and their families.
Mexco Energy Corporation Reports Another Quarter of Record Earnings
… Barnett Shale royalties purchased on June 6, 2008 for $429000. For the three month period ending June 30, 2008, revenues from oil and gas royalty …
Uncovering mineral rights
I mention this because another huge natural gas deposit similar to the lucrative 5000-square-mile Barnett Shale in north Texas has been found beneath a …Pursue remedies for pipeline conflicts
Chesapeake, a major player in the Barnett Shale drilling boom, considers putting gas lines under city streets a “feasible option” in some circumstances, …
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Tags: Barnett Shale, doubleouter continental shelf, entente, gas leases, gas resources, government office, interior department, investing in real estate, kindred spirits, legislative actions, mineral interests, mineral rights, minerals management service, oil companies, oil valuations, resource owners, royalty interests, royalty management, royalty revenues, substantial losses
