What do you know about owning the mineral rights versus owning the oil and gas rights?

What do you know about owning the mineral rights versus owning the oil and gas rights?

I've been told there is a difference. On my property USX supposedly owns the mineral rights, but my neighbors tell me that I own the oil and gas rights. Can this be true?

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Permalink Reply by JMS on August 5, 2011 at 6:58am
Good to know...once again...you all have been a great help!
Permalink Reply by Larry Lagut on August 9, 2011 at 9:35am
I would say you are entirely confused about them doing a lease after they do title search before they sign bonus. I'm am presently working on two diferrent farm on which my granddad own and kept 1/2 oil-natural gas for himself and heirs and I notice that both of these parcel own by two different family signed with gas company back in 1992.My family did do a title  search and found out  we do own these rights. It not mention in their deed only in a deed from 1925 in which my granddad gave these farm to his brother. It pay to check thing out. When Snyder Oil    Landman found out about this he told me he was confused that he didn't see it when they sign this family on.
Permalink Reply by Jim Litwinowicz on August 9, 2011 at 9:55am

Most companies do a full title search, usually by subcontracting a title company. But this company may have had a clause stating that the landowner warrantied the deed. If so, they put the responsibility on the surface owner, which I advised against. By accepting the warranty of title clause, the surface owner may be responsible for reimbursing anyone with an interest in the rights their share of all monies received from bonus money to royalties to shut in fees.

 

If the company accepted the full warranty of title, then they, or their title company, is responsible.

 

I am not an attorney but this is how it was explained to me.  You may want to talk to an attorney about this.

Permalink Reply by Larry Lagut on August 10, 2011 at 4:05am
I had a friend up in Eldorado that another oil company  that bought out the company that they where lease with  had them sign a clause saying they own the oil rights . And I inform them since they only own the land for 15 year they really don't know the history. They told me that their Lawyer said it was OK to sign this contract even though they didn't do a title search which really cost . But I think you are right .But time will tell
Permalink Reply by Faith Johnson on August 16, 2011 at 4:06pm
My deed says the seller reserves the mineral right to any existings well, which is a dead capped well with no activity for over 20 yrs so does that mean i own all future rights?

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