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Differentiating gas wells from oil wells
When trying to sell your mineral rights, it is important to determine whether the wells on your property are technically classified as oil or gas wells. People may use these terms for their wells interchangeably because they often produce both. However, failure to correctly differentiate between the two may cause profound economic consequences, from well spacing issues, pipeline company prioritization, to the possibility of severing ownership in some areas of Texas.
Because wells often contain a mixture of oil and gas, provisions of the Texas Natural Resources Code clearly makes a distinction based on the ratio of each element. The Code defines an oil well as a well “that produces one barrel or more of oil to each 100,000 cubic feet of gas.” On the other hand, a well that produces pure natural gas with no oil, or produces more than 100,000 cubic feet of gas per one barrel of oil is considered a gas well.
To learn more about the legalities of mineral rights, consult with our team in Austin at The Mineral Auction by calling (512) 698-2802 today.
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If you’ve been thinking of putting your mineral rights up for sale, or you’re interested in learning more about how much you could potentially get for your interests, then The Mineral Auction is ready to help you.
We’re located in Austin, TX, and because we have connections to thousands of oil and gas royalties and mineral rights buyers, we know that we can get you the best deal if you are looking to sell your mineral rights, whether you’re located in Texas or anywhere else in the U.S.
The Mineral Auction provided me with an invaluable exit strategy when selling a mineral interest that one of my clients had. I’d recommend them to anyone who has the need to create some liquidity.
Blake is excellent. We have used him in numerous family issues and find him always direct and very helpful. He is incredibly informed and our go-to guy.
Blake and I have worked on several deals together and they have always gone off without a hitch. Both parties leave the table satisfied. Highly recommended!
Blake hit it out of the park! He did everything he said he would do, and then some. He far exceeded our expectations within a day! If you are concerned about paying commission or being restricted to a broker – don’t be. He will max out the value of your minerals. I tried to negotiate with several buyers on my own and didn’t come within the same universe.
Blake Bergstrom helped my family negotiate the sale of our mineral rights for our small ranch outside of San Antonio. I found Blake to be very knowledgable about whole process and took the time to answer all our questions. We were very satisified with the transaction and have already recommended Blake and The Mineral Auction to some our friends. Thanks again.
I have mineral rights to natural gas and Blake was excellent in his advice regarding my situation. Thanks a lot for your help!
