Posted on Friday, January 31st, 2014 at 10:40 pm
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.