A U.S. Court of Appeals has upheld a previous court decision that requires Chesapeake Energy to pay millions of dollars to three leaseholders, an online report stated on May 1.
According to the report, a three-judge panel of U.S. Court of Appeals in New Orleans decided to reject Chesapeake Energy’s appeal against having to pay $121 million to Texas-based Preston Exploration and two affiliates. In 2008, Chesapeake agreed to acquire 500 oil and gas leases from the three leaseholders, but later withdrew the arrangement when gas prices dropped drastically just before the agreement was about to conclude.
Chesapeake Energy initially won the case, but an appeal won by Preston led to a judgment that the energy company broke the deal with the leaseholders.
Our highly experienced team of brokers at The Mineral Auction helps sellers find the best possible price on their mineral rights. Contact us at (512) 698-2802 to learn about how we can help put your mineral rights up for auction in front of our network of thousands of reputable buyers.
By the end of 2014, Texas could outrank all OPEC member countries, other than Saudi Arabia, in terms of oil production, the Houston Chronicle reported Wednesday, April 23.
Greg Leveille from ConocoPhillips said that by the end of this year, Texas could produce 3.4 million barrels of oil each day, out performing every OPEC member-country except Saudi Arabia. The state’s oil output is also expected to top that of several leading oil-producing non-OPEC countries, except Russia, the United States, China, and Canada, which could make Texas the sixth largest oil producer globally.
The future of energy-rich Texas in the global energy market is indeed bright, and we at The Mineral Auction invite you to take part in this boom. If you are planning to sell your mineral rights, contact us at (512) 698-2802 to sell your rights at the best possible price.
Congressman Ted Poe recently stated that the natural gas boom is benefiting the local economy in Houston, and says Texas can potentially be the “Saudi Arabia of natural gas,” according to an online report released Monday, April 7.
In a speech delivered during the Houston Northwest Chamber of Commerce and Economic forum, Poe said Texas has more than liquefied natural gas (LNG) than it can use, and added that the state’s goal should be “to export the rest.” Poe also dubbed the Port of Houston, which is currently undergoing a $150 million-worth of dredging to hike docking capacity, as a potential LNG terminal site.
Texans are indeed in a very beneficial position to get the most out of the U.S. LNG boom. If you too are planning to take advantage of this industry, The Mineral Auction has the resources and the experience to help you sell your mineral rights at the best possible price. You may reach us anytime at (512) 698-2802.
Because of the proceeds it acquired from different overriding royalty interests, Breitling Energy announced on Friday, March 14, that it has enough funding to tap 900 wells and drill on more than 4,000 acres of land in various states across the U.S., including Texas.
This announcement came after the company made its discovery of oil in Taylor County, TX public. Breitling started its operation in Taylor on February 11, and has estimated that 40 to 50 barrels of oil are being produced each day by its wells at the Teaf #1.
More and more people are realizing the potential of gas production and mineral rights. If you own mineral rights and want to get the most possible money for them, our team at The Mineral Auction can help you sell them for the best price possible. Call (512) 698-2802 to learn more about how we can help you.
A woman had a few thousands of dollars’ worth of unclaimed property from mineral rights, an online report published on Wednesday, March 5 stated.
Julia Earnest got $3,600 of unclaimed property from the Denton County Administration Building for mineral rights she was never aware she had. This came after the Texas Comptroller’s Office granted Denton County Treasurer Cindy Brown’s request to send an unclaimed property expert in the county to personally meet Denton residents.
Mineral rights can be a sure source of income, and selling them can provide you with greater financial stability and freedom. Contact our team at The Mineral Auction if you want to learn more about selling your mineral rights for the best possible value by calling (512) 698-2802 today.
Shale gas production in Texas is thriving despite a slight decline in the global energy production, IHS Energy Senior Research Director Pete Stark stated in an online report published Tuesday, March 4.
The report stated that the discrepancy between the domestic and the global energy production has resulted in a booming U.S. energy production market. In one of CERAWeek’s meetings being hosted in Houston this week, Chevron Upstream Vice President said no one has expected the technological developments for shale gas production to happen so fast.
The unique success in the domestic shale gas production in Texas is driving a lot of mineral rights owner to sell their mineral rights. If you too are thinking of taking advantage to this energy boom, speak with our team at The Mineral Auction. Call us at (512) 698-2802 to find out more about how to sell your mineral rights for the best possible value.
An online report in the Dallas Business Journal revealed that Fort Worth-based Trinity East Energy has filed a lawsuit against the city of Dallas Thursday, February 16, over accusations that the city committed breach of contract, inverse condemnation, an unconstitutional taking, and fraud.
According to the lawsuit, the city of Dallas denied Trinity East its right to drill and to create a compressor station on the northwest border of the city despite the fact that the company paid the city $19 million for property leases in 2008. The company had bought the minerals from the city with the plan to drill for them.
The company demands recoup from the damages it has incurred. A total of $30 million has been invested by Trinity East to drill natural gas in the area, but its claim might become higher due to lost profits caused by the inability to sell natural gas.
Our team at The Mineral Auction is equipped with the knowledge and experience needed to guide you through the process of selling your mineral rights. Call us today at (512) 698-2802 to know more about how we can help you sell your mineral rights and get the best price possible.
A mineral estate, commonly referred to as mineral right, is a property right to mine, use, develop, sell, and profit from any or all of the minerals extracted from underneath certain pieces of land. These minerals include gas, oil, metals, ores, and other organic or inorganic materials that are part of the soil and can be found beneath the ground. However, materials such as gravel, limestone, sand, and subsurface water are not considered underground and, thus, are not part of the mineral estate.
The general rule that the mineral estate is dominant over the surface estate also applies to Texas. This means the mineral rights owner can:
- Use as much of the surface of land as reasonably necessary for mineral exploration and development
- Receive royalties
- Further convey rights
- Receive payments for drilling delays without terminating the lease
- Receive bonus considerations
Understanding the laws surrounding mineral rights can be extremely difficult without the aid of a mineral rights broker at The Mineral Auction. Call us at (512) 698-2802 to find out more about mineral rights and their potential revenue.
Individuals planning to sell their mineral rights want to ensure that they will be getting the highest possible price for their minerals. However, determining the worth of the minerals underneath a property might be very challenging as mineral rights are valued based on a variety of factors.
Typically, a buyer’s offer price is high if previous records in the area indicate success in drilling activities. Mineral prices and trends in the market also affect the value of the mineral right. Additionally, other costs such as transportation and taxes relevant in the area may also have an impact.
Mineral right owners face the challenge of optimizing their revenue by ensuring an appropriate approach in determining the value of their mineral property. Equipped with extensive market knowledge, connections, and resources, our Texas-based team at The Mineral Auction is ready to bring out the best value of your mineral rights when you call (512) 698-2802 today.
Land ownership under the Texas law includes two different sets of estates (rights), the surface estate and the mineral estate. Although surface landowners usually own the minerals found underneath their properties, several areas in Texas have surface estates and mineral estates divided. This division, or ‘severance,’ allows both the surface and the mineral rights to be separately owned by different people or entities.
In Texas, areas with a record of extensive mineral and oil development are oftentimes the areas where surface and mineral rights are severed. It is important to determine whether you own a property in which the mineral right is separated from the surface right by consulting a knowledgeable professional adept in understanding and interpreting laws surrounding surface and mineral rights ownership.
Knowing that you own the mineral underneath the property you possess provides you the chance to sell your mineral right to prospected buyers. However, selling your mineral right can be risky and complicated without the help of our experienced mineral rights brokers from The Mineral Auction. Call us at (512) 698-2802 to know more about how we can help you sell your mineral assets at the highest possible price.