Oil shale is one variety of sedimentary rock. It is formed when silt and clay combine. Oil shale usually contains kerogen, a good possible source of gas and oil. Technological developments, which have enabled oil companies to combine horizontal drilling and hydraulic fracturing have resulted to an increased production of shale oil and gas in the United States. This has transformed the nation from being an oil-dependent country in the past to a major oil producing one today – a transformation that has caused excitement not only among oil firms but among land owners too whose lands may be possible sources of oil.
The common law grants owners of properties or estates in the U.S. certain rights, namely, “mineral rights” and “surface rights.” These rights include private ownership of oil, gas, valuable rocks and all other forms of minerals which may be found on or under their property. These rights include the property owners’ legal capability to lease, sell, transfer ownership, bequeath or give these rights to anyone they choose.
Owner’s control over their properties and whatever may be found on or beneath these is one of the most basic stipulations in the private ownership law which is legally referred to as, “fee simple estate.”
Thanks to this “fee simple estate,” owners of lands along the shale regions are given the possible chance of enjoying the flow of huge amounts of cash into their household. The only thing they need to make is to decide whether to sell or lease their mineral rights to any of the giant oil firms that lay their offer on the table.
To a number of property owners, however, deciding is just never too easy. Selling mineral rights has advantages and disadvantages, but so too does leasing these. If you want to sell mineral rights, you probably want to find out as much as you can about the process before you commit to a decision. A successful sale that will earn you maximum profit with minimum effort depends on a confident seller familiar with the ins and outs of a complicated, time-sensitive market. Some mineral rights brokers have developed a step-by-step guide to help you sell mineral rights at the best possible price. Once you understand the basic process, you will be better able to make an informed decision about how to proceed.