There are a number of reasons people sell their mineral rights. They receive a lump sum of cash to pay off loans, debt
Not all geology or rock is the same. Some areas have thin and shallow windows in the formations that are not ideal for production.
We are required by law to obtain a tax identification number when making a reportable payment to you. Failure to provide this information could result in a tax withholding of 28% and applicable fines under IRS Section 6723.
This is the proportion of the revenue generated by developing the minerals under the land which are paid to the mineral owner. The oil and gas company producing the minerals receives the remaining revenue to cover the cost and risk of developing these minerals.
All property transfers require consideration. We, along with everyone else puts the minimum consideration, For Example: Ten or more dollars.
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