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In the United States, oil and gas rights to a particular parcel may be owned by private individuals, corporations, local, state, or federal governments. Oil and gas rights expand downward in the property line. The surface landowner owns oil and gas rights, unless explicitly stated by a deed. Once severed from surface ownership, oil and gas rights may be bought, sold, or transferred, like other real estate property. Whoever owns the deed of the soil owns the land rights to oil below the surface. If you are a prospective purchaser or current landowner, a Real Property Attorney can help protect the oil and gas rights of your land.
Typically oil and gas companies do not own the land they drill on. Often times the companies lease the land from the landowner (lessor). If you are a landowner whose been approached by an oil company for prospective drilling on your land, a Mineral Rights Attorney can help review and draft a lease. Lease terms tend to include duration of the lease, a description of the property and amount of payments to be made to the lessor.
Oil and gas contracts have clauses that are different from general contracts. An attorney experiences in oil rights can make sure the interests in your property are protected. An Oil Rights Attorney can expressly state all terms to the lease to prevent discrepancies after the lease is agreed upon. They can also make sure that local statutes cannot override the agreement between the you and the oil company.
If you need assistance finding an attorney experienced in Oil Rights, contact Attorney Search Network today for a free lawyer referral.
If you have any questions about the information provided above, please contact us. Call us toll free at (800) 215-1190 or fill out our online form for your Real Property lawyer referral.