The United States produces more barrels of oil than any other country in the world. Within the US border, no state produces more oil than Texas, and this is by a landslide. In fact, according to the U.S. Energy Information Administration, oil production in Texas produces over 3 times as many barrels as North Dakota, […]
Stockpiles of U.S. oil inventories dropped for the second straight week, the Energy Information Administration reported. Oil prices remained higher following the report, with WTI futures climbing more than 3%. Oil inventories fell by about 5 million barrels for the week ended May 15, the EIA said. That compared with expectations for a build of […]
Mineral rights and oil and gas leases tend to be a bit more complicated than ordinary surface rights leases. When you sell or lease a home, there is a pretty obvious boundary (oftentimes marked by a fence) that designates what the lessee can control. Below the surface, however, the spaces occupied by precious mineral reserves […]
Oil prices jump after U.S. stockpile data Wednesday showed another surprise weekly decline as coronavirus lockdown restrictions continue to ease across the country. The Energy Information Administration reported crude inventories dropped by 5 million barrels last week. Analysts polled by S&P Global Platts saw an increase of by 2.4 million barrels. Last week, EIA stunned […]
Fee Simple vs Leasehold, Leased Fees in Oil and Gas There are many different kinds of transactions associated with the buying, selling, and leasing of property. Mineral rights are no different. Whenever you buy or you sell or lease mineral rights, you may be entering into one of several kinds of agreements. In this article, […]
If you are selling or leasing your mineral rights, you may have some competing offers sitting on your desk. In an oil and gas lease, you can potentially earn a large amount of money over time. This is through the acquisition of oil and gas royalties. Does a company particularly have an interest in your […]
The U.S. will need to significantly reduce domestic oil production to prevent a protracted period of sub-$30 WTI, a level that leaves almost no producer profitable. Over the last 10 years, technology and access to capital have allowed for rapid growth in oil production as well as in associated gas volumes. Historic reductions in drilling […]
If you own mineral rights and receive oil royalties, then you are probably curious about the oil well production levels. In an oil and gas lease on your property, you may have one or more oil wells on the land that is being drilled by the oil company. How Many Barrels of Oil Does a […]
If you own mineral rights in the United States, you may be sitting on a potentially large stream of income. Thousands of property owners across the country have contacted oil companies and investors in order to drill and profit from the precious minerals in Earth. This is your guide on how to get oil companies […]
Oil wells come in all shapes and sizes. All across the United States, there are oil wells being built, used, and torn down, and thanks to over 100 years of drilling history, the public now knows a lot about the ins and outs of a typical drilling operation. In this article, we are going to […]
