South Texas counties want to benefit from mineral rights
Posted on Tuesday, January 13th, 2015 at 5:34 pm
Counties in the oil-rich Eagle Ford Shale in South Texas wish to lease rights of way and mineral rights underneath county roads to repair those roads damaged by heavy-duty carriers of oil field equipment, The Texas Tribune reported.
However, a 1960 ruling by an attorney general regarding the state’s sovereignty over roads prevents counties from negotiating for and receiving revenue from leases. DeWitt County Judge Daryl Fowler and representatives from other counties plan to seek legislation that would allow counties to negotiate or at least receive some revenue from mineral rights leases and royalties. Fowler said it is right for counties to receive a part of the revenue from mineral rights beneath roads, as they are the ones who typically maintain and repair roads.
The 54-year-old opinion indicates that leases and royalties from mineral rights found beneath roads should go to the state general fund.
The revenue from mineral rights can also be economically favorable to the individual families who own them. If you want to reap the full benefits of the mineral rights you own in Texas, consider selling them with the help of our team of mineral rights brokers at The Mineral Auction. Call us today at (512) 698-2802.