www.royaltypurchaser.com specializes in purchasing of oil mineral rights, oil lease royalties and gas and oil royalties from estates and individuals. Also, buys oil exploration in return of cash from parties in Texas, Oklahoma, Mineral rights New York, Louisiana, West Virginia, New Mexico, Michigan, California, Illinois, Montana, Canada and many other North American locations.
If you live in the USA and own property in an area known to be rich in oil make sure you are not passing up a great opportunity the opportunity of creating your own oil wealth by leasing your oil mineral rights.
With the boom in oil exploration activities all over the USA oil companies are not shying away from making investments in signing an oil lease in an area where there is a remote chance of an oil find. So the first thing you should do is to confirm that you, and not some other individual, own the mineral rights along with the surface rights. This is the first and most important step to creating that oil wealth-that of confirming the right of ownership of oil mineral rights.
The second step is to ascertain the likelihood of oil in your property. A good geologist from your neck of the woods should be able to give you an indication after a survey. Thereafter with the likelihood of oil in your property having been confirmed you must consult a good oil and gas attorney fully conversant with your state’s oil and gas laws. This attorney will help you in drawing up a comprehensive oil lease that you will need to sign with the oil company. The lease document will legally transfer your oil mineral rights for a limited period to the company.
Before signing the lease document you must be fully aware of all the state laws, the loopholes and the fine print and then only sign away your oil mineral rights and not the rights pertaining to other minerals. Briefly, the important features of the lease document pertain to the initial term for which the lease would be valid and by which time oil production should have started. The document would cover the bonus amount to which you are entitled and the royalty percentage which you should receive. The document would also cover lease renewals, the indemnity clause, the responsibility for capping the oil wells and returning your property to normalcy once oil extraction has been completed. Finally bargain hard during negotiations.
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