Posted on Friday, December 13th, 2013 at 10:16 pm
There are several factors to look into when evaluating the possibility that a land property has oil reserves beneath it. Experts believe the presence of certain rock types can indicate oil in an area. Oil is formed through decayed organic materials caught in areas of sedimentary reservoir rocks, and so inspecting rock types found within your property may help identify the existence of oil.
The best indicator, however, that oil is present beneath the surface of your lot is if it seeps to the surface of your land. A great example of this phenomena are oil sands. Before drilling techniques were used to get oil, oil was collected after it surfaced on the earth from underground. Oil that has been untouched in liquid form underground is called crude oil. However, sometimes the hydrocarbons that form this energy store present themselves in a gaseous state. As a result we call this natural gas. Finding natural gas can have similar benefits in regard to mineral ownership.
Determining whether you have oil on your property typically involves a process of exploration and testing. Here are some steps you can take to assess the presence of oil on your property:
- Research: Research is a good starting point regarding how to find oil. Begin by conducting research on the geological history of your region. Look into the presence of oil wells or natural oil reserves in your area. Local geological surveys, historical records, and geological maps can provide valuable information.
- Consult with experts: If you have limited knowledge in geology and petroleum exploration, it’s best to consult with a geologist or a petroleum exploration company. They can help you understand the geological features of your property and the likelihood of oil deposits.
- Geophysical surveys: Geophysical surveys involve using various tools and techniques to study the subsurface of the earth. It is currently one of the best methods in how to find oil underground Seismic surveys, magnetic surveys, and gravity surveys are common methods used to detect potential oil reservoirs.
- Soil and rock sampling: Collect soil and rock samples from different areas of your property for analysis. Oil seepages might leave noticeable traces in the soil, and analyzing these samples in a laboratory can provide clues about the presence of hydrocarbons.
- Drilling: If you want to be certain about the presence of crude oil, you may consider drilling exploration wells. It is the most direct answer to the question of “How do we find oil?”. However, drilling can be a costly and risky endeavor, so it’s advisable to consult with experts before proceeding.
- Seek legal advice: If you suspect the presence of oil on your property, it’s crucial to understand the legal implications and ownership rights. Consult with an attorney experienced in oil and gas rights to ensure you comply with local regulations.
- Consider partnerships: If you discover significant oil reserves on your property, you might consider partnering with an established oil company to explore and develop the resources together. These companies have experience in oil and gas extraction and aid in the development of lucrative oil or natural gas production.
Discovering the presence of oil under the surface of your property may be very good news, as it can be a potential asset that can be liquidated to provide you with greater financial security. However, you definitely need the help of experienced mineral rights brokers such as our team at The Mineral Auction that will ensure the highest return on your investment. Call us at (512) 698-2802 to the get guidance and answers you need.