Been buying real estate with the family for years and didn’t even know about mineral rights!! Thanks for your videos they are all so helpful!! Will continue to watch out for more!
Hello! Fantastic video and incredibly informative! I do have a question regarding leases held by production - using 5:56 as a type of example, is a lease still classified as HBP if there is a well on the leased tract(s) that is classified as inactive/nonproducing (not shut-in or plugged, but just not actively producing at the moment)? I was under the impression that in order for a lease to be HBP, there has to be at least one well actively producing, but recently I was told that an inactive/nonproducing well can still hold a lease by production, and I just wanted to ask for your insight on this.
Yes, that could be true. Some operators will only produce a tiny bit of oil or gas every year or two in order to hold the lease (leases have various terms regarding what is required to hold the lease).
I was thinking about buying coal and mineral rights in Southern Illinois from a county auction but I really do not know where to begin researching. Any suggestions?
This is probably obvious, but you may want to focus on producing minerals. Illinois doesn't produce much oil and gas, so if you buy non-producing minerals, they may never be developed. I don't really know much about coal rights in Illinois.
@@BlueMesaMinerals I am from Bangladesh.I have interest in oil business as I have heard that oil business is highly profitable. But everything is unknown to me. Can I share my social media number with you like what's app/imo/telegram number?
i just back out of a land deal because of "all mineral rights remain with the previous owner" clause in the agreement. ill never agree to something like that and it should be illegal
Mineral rights can be severed from the surface, creating two separate chains of title for "real property." It doesn't have to be severed, but much of the oil and gas producing land does have severed minerals.
@@BlueMesaMinerals it should never have been allowed to be seperate. you buy the land you should own whats under it. i will never participate in any land deal that mineral rights are not included.
@@captrodgers4273 I'm sure the 12.5 million royalty owners would disagree with you. Regardless, it's just how the law evolved. The book, "Oil and Gas Law in a Nutshell", provides a great background of how this situation evolved. www.amazon.com/Oil-Gas-Law-Nutshell-Nutshells/dp/1640201157
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Been buying real estate with the family for years and didn’t even know about mineral rights!! Thanks for your videos they are all so helpful!! Will continue to watch out for more!
Thank you for your kind words. If you think of a topic that you would like to know more about, just let me know. I'm always looking for video ideas.
Hello! Fantastic video and incredibly informative!
I do have a question regarding leases held by production - using 5:56 as a type of example, is a lease still classified as HBP if there is a well on the leased tract(s) that is classified as inactive/nonproducing (not shut-in or plugged, but just not actively producing at the moment)? I was under the impression that in order for a lease to be HBP, there has to be at least one well actively producing, but recently I was told that an inactive/nonproducing well can still hold a lease by production, and I just wanted to ask for your insight on this.
Yes, that could be true. Some operators will only produce a tiny bit of oil or gas every year or two in order to hold the lease (leases have various terms regarding what is required to hold the lease).
I was thinking about buying coal and mineral rights in Southern Illinois from a county auction but I really do not know where to begin researching. Any suggestions?
This is probably obvious, but you may want to focus on producing minerals. Illinois doesn't produce much oil and gas, so if you buy non-producing minerals, they may never be developed. I don't really know much about coal rights in Illinois.
@@BlueMesaMinerals I am from Bangladesh.I have interest in oil business as I have heard that oil business is highly profitable. But everything is unknown to me.
Can I share my social media number with you like what's app/imo/telegram number?
@@redshows6964 Does Bangladesh have any opportunities to buy land?
@@desmondstewart9075 you need land for which purpose?
@@redshows6964 i would like to invest in property to get residual income, partnerships possibly.
i just back out of a land deal because of "all mineral rights remain with the previous owner" clause in the agreement. ill never agree to something like that and it should be illegal
Mineral rights can be severed from the surface, creating two separate chains of title for "real property." It doesn't have to be severed, but much of the oil and gas producing land does have severed minerals.
@@BlueMesaMinerals it should never have been allowed to be seperate. you buy the land you should own whats under it. i will never participate in any land deal that mineral rights are not included.
@@captrodgers4273 I'm sure the 12.5 million royalty owners would disagree with you. Regardless, it's just how the law evolved. The book, "Oil and Gas Law in a Nutshell", provides a great background of how this situation evolved. www.amazon.com/Oil-Gas-Law-Nutshell-Nutshells/dp/1640201157