Does your land have value, beyond its assessed property value? It very well might, if you dig (or drill) a bit under the surface. We’re a long way from the gold rush days of old, but while real gold strikes aren’t what they used to be, there is such a thing as “black gold.” Black Gold, if you didn’t already know, is oil. It is oil that makes the world go around, or at least helps people go around it. Even as the search for reusable and environmentally friendly energy sources continues, so much of what we do relies on oil.
More Than Oil Is Down There
It’s not just loads of oil down there either. Gas, specifically natural gas, is a valued commodity these days. Natural gas, especially in the form of CNG (Compressed Natural Gas) can bring a pretty penny to those with rights to the natural resources on their property. There are oil and gas royalty buyers who specialize in securing mineral rights for themselves with the intention of paying money to landowners for the right to access them, much as authors or bands are paid for the rights of others to sell their works on their behalf.
If you discover that your property sits above a potential oilfield or gas play, you might wonder what to do next. It’s a good bet that you’re not an amateur oilman, so drilling for it on your own is probably out of the question. Not to worry, for those aforementioned oil and gas royalty buyers will soon come calling on you to help you figure out the best way to get that stuff out of the ground. From discovery to development, you could find that the hard work ends up being done by others while you get to reap the benefits of your luck.
Get Local Experts to Help You
Depending on where you are, the oil and gas royalty buyers who descend on your property could be from a national organization or a more localized entity. Given the fact that every state and municipality has its own laws and bylaws, the local companies – which in areas where many a discovery have been made, are plentiful – are better equipped to navigate the sometimes vast bureaucracies and regulations that can potentially act as stumbling blocks or speed bumps on the road to producing mineral resources wealth.
It could take time for a company to actually drill on your property, which is why selling your rights makes more sense. There’s also no guarantee that actual drilling will result in the profits you imagine for yourself. If you sell off your mineral rights, you can get a big payout now rather than wait for drilling to begin. Few opportunities are out there to get a quick payoff from investments. This is one that shouldn’t be overlooked.