3 Common Types of Mineral Rights
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- Опубліковано 22 лип 2024
- Let's review the three most common types of oil and gas mineral rights, including mineral interest, royalty interest, and working interest.
Mineral interest: A mineral interest ownership includes the executive rights to explore, develop, and produce the minerals under a specific tract of land.
Royalty Interest: Royalty interest owners are entitled to a percentage of the well's revenue without having to pay for any of the expenses associated with drilling or operating the well.
Working Interest: Working interest includes the right to explore, develop, and produce minerals granted by an oil and gas lease and the obligation to pay expenses (including royalty payments).
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Questions? Leave a comment!
Very helpful. Thank you.
Absolutely love your videos! You are incredibly informative and honestly have helped me when I started working at an oil and gas auction house. I knew nothing coming in but your videos have helped me gain valuable knowledge in making sure properties are presented appropriately from what owners and companies are wanting to sell.
Thank you! That's nice to hear.
Remarkable how impactful this stuff is…
What about non-op WI?
Yes, there are actually 7 types, but these are the three basic types. Non-operated working interest is fairly common, too. I should do a video about that.
If it says it comes the land is for sale with 50% of mineral rights.Do I ask what mineral rights does it come with?
Yes, it's a good idea to ask a lot of questions and know what you are buying. My guess would be that someone else owns the other half of the mineral rights or they are reserving half of the mineral rights.
How do you know or how do land realtors who just sell minerals rights know that there's minerals beneath the land. Is this just an overall assumption that all land has minerals beneath it.