Mineral rights are a unique kind of individual right in this world. Most countries’ governments seize the rights to all mineral resources. In those countries, no extraction or sale of valuable minerals (including rocks) is allowed without the express consent of that particular government.
The United States is the small minority when it comes to mineral resources ownership. Rights to ownership here in the U.S. begin with property ownership, and it includes minerals accessed both at surface and subsurface levels. These rights can be transferred for the purpose of drilling, mining or any other means of mineral resources production.
Rather than pursuing full ownership, many times it makes sense for companies to leasing property where mineral and resources production may occur. The state of Kentucky has laws that govern this lease process. Gregory A. Ousley, Attorney at Law can protect the interests of the lessee or the lessor, ensuring transactional compliance with any relevant federal and state laws.
Landowners in Kentucky are often approached by oil and gas companies seeking to establish mineral rights leases and surface-lease agreements. Each lease is a little different, but royalties are often a part of the negotiation.
Oil and gas companies have a professional and legal obligation not only to provide an accurate calculation of oil royalties but also to pay out those royalties when appropriate. The oil royalties counsel of Gregory A. Ousley, Attorney At Law enables landowners to receive the protection they need throughout the surface- and mineral-rights lease process.
Gregory A. Ousley, Attorney at Law is pleased to offer a wide range of legal services in the oil, gas and natural resources industry. If you have any questions regarding contracts, oil royalties’ payouts or lease negotiations, don’t hesitate to contact us.