It might seem too good to be true to discover one has oil on his property and could very possibly strike it rich. The classic American sitcom, Beverly Hillbillies, tells the tale with hilarity of a family from the Ozarks who found oil on their land, made a fortune and transplanted into the upscale city of Beverly Hills, California. Although they live in a mansion among the rich and famous, they continue to display their backwoods, hayseed mannerisms, causing mayhem and great entertainment. But, many people say if it seems too good to be true, it probably is.
Drilling for Oil on Your Property
It seems easy enough, doesn’t it? If you own the property, you should be able to do what you want with it. Just as zoning laws stipulate whether you can build commercial or residential buildings on certain properties, mineral rights govern who can reap the benefits of minerals such as oil contained within the earth. The first step is to find out if there are even any natural resources contained in the land you own.
If You Have Oil on Your Property
If you do have oil reserves in your land, the next question is who owns the minerals. In some countries, the government automatically owns all the mineral rights to the land; however, in the United States, land, property and minerals can all be privately owned and by separate owners. Before you do anything in an attempt to collect the minerals or oil on your land, you must find out who owns them. There are three things you can do to find out this information:
- Contact your county deeds office.
- Engage a title company.
- Hire an experienced oil and gas lease attorney.
Oklahoma City Oil and Gas Attorney
Although there may be a great fortune to be had, it’s important to go about the process correctly in order to protect your current and future assets. At Robert Robles Law Firm in Oklahoma City, we know the oil and gas business and we want to protect landowners. We offer free consultations to all of our clients, which are completely confidential. Call now at 405-232-7980 or fill out our contact form.