The correlative rights doctrine is a very important legal doctrine that determines the rights of owners to a common reservoir based on the land owned. It is put in place to prevent overproduction....
Texas is a state that is rich in resources like natural oil and gas and some other minerals. Due to this reason, there are different factors that act on property ownership in Texas....
The habendum clause is the part of a contract that is associated with the interests, property rights, and other related aspects of ownership that are handed over to one of the parties to....
If you ever have to sign an oil or gas lease there may be some terms you’re unfamiliar with. It is in the best interest of a landowner to read and thoroughly understand....
Typically, modern mineral rights ownership is not without its complex issues. In the United States, property is everything. The ability to own property sets Americans apart. It is also worth noting that the....
When you are a surface owner, many questions can arise. This is particularly so when the property has mineral resources. With mineral rights, owners have the right to explore and exploit any available....
Mineral rights is a term that refers to the right to develop and produce a wide selection of minerals taken from the ground. Mineral rights are often separate from property ownership. The minerals....
In the United States, the domestic oil and natural gas industry use very specific measures and units. These units have been used since the industry began and have been retained and expanded upon....
Intangible drilling cost is one of those large tax breakouts afforded by oil companies which lets them subtract the cost of drilling wells in the US. Generally, businesses in the oil and gas....
Named after Lawrence Pugh, a Crowley Louisiana attorney who developed the clause in 1947, the Pugh clause may turn out to be a tripwire for unaware investors in an oil and gas lease....
Oil and natural gas projects generate substantial tax benefits. Oil represents one of the exceptional tax-advantaged investments for big investors. It promises to stand alone above other commodities. As the United States government....
Top leasing oil and gas is a term that refers to a scenario in which an oil and gas lease is implemented on land with an existing lease. The term refers to a scenario when....
Oftentimes, oil gas and mineral leases (OGML) - which exist between the production company that holds the lease of the minerals (the lessee) and the mineral rights owners that leases the minerals (lessor)....
Since 1926, the Oil and Gas Depletion Deduction for small producers has been a part of the United States Federal tax code. Depletion represents a form of depreciation for mineral resources. It enables....
Since the mid-1950s, oil and gas have become the most important sources for the global energy industry. Generally, the oil and gas industry consists of three major segments: upstream, midstream, and downstream. So....
It is no stretch to affirm that the oil and gas business is a lucrative one. However, before dabbling into this industry, you need to acquaint yourself with how it works, including some....
Mineral Interest vs Royalty Interest - What Do You Need to Know? The importance of understanding the difference between mineral interest and royalty interest cannot be ignored. After all, the type of mineral....
A Non-Executive Mineral Interest (NEMI) is a type of mineral interest held by an individual or entity. But it does not give them the right to drill for and produce oil or gas.....
Oil and gas investments are a lucrative business. However, there is a need to understand several terms, including Net Revenue Interest (NRI). Often, the costs of getting access to a tract of land....
Many mineral resources can be found beneath the earth's surface. As a result, if you happen to stumble on oil, natural gas, copper, or zinc, among others - on your surface land, don't....
