Despite a significant fall in crude oil prices in the second half of 2014, the United States was still the world’s undisputed biggest producer of oil and natural gas hydrocarbon last year, the Climate Spectator revealed on April 9.
The report said the boost in production was due to the country’s aggressive exploration and drilling of shale gas and tight oil formation, specifically in the states of North Dakota and Texas. The country was able to boost its petroleum production by 3 quadrillion British thermal unit (Btu), or 1.6 million barrels per day, and its natural gas production by 5 quadrillion Btu, or 13.9 billion cubic feet per day.
On the other hand, petroleum and natural gas production in two other competing countries, Russia and Saudi Arabia, has remained unchanged for several years.
The country’s impressive oil and natural gas production further testifies that you can get the most out of your mineral rights by selling it today. To learn more about getting the highest possible value for your mineral rights sale, speak with our team of mineral rights brokers at The Mineral Auction by calling (512) 698-2802 today.
Some mineral rights owners are tempted to lease their mineral rights due to the promise of long-term returns. However, the fast-changing landscape of the oil and natural gas sector may cause the value of your mineral rights to dwindle. Something that may risk the profitability of your mineral rights could be the fluctuating price.
The value of mineral rights is subjected to the fluctuating prices of oil and gas on the market. Oil prices may vary depending on several factors, such as local and global changes in the supply and demand, market sentiment, and even politics and public policies. Although the fall in oil prices primarily benefits consumers, it may have a negative effect on oil explorers and drillers who spent a lot of resources and are in considerable debt for contributing to the oil and gas boom. Oil companies in debt are in turn reluctant to expand their oil and natural gas portfolio, which greatly affects those who own mineral rights.
Those who sell their mineral rights upfront to interested oil explorers have a decreased chance of being affected by the price changes and are therefore more likely to benefit than those who chose to lease their mineral rights.
By selling your mineral rights, you are sure to secure the best of what your property can offer today. Our brokers at The Mineral Auction can help you sell your mineral rights at the highest possible value. Call us at (512) 698-2802 to get help today.