For 34 years, J. Randall Patterson has represented clients in South Texas and the Gulf Coast in matters involving oil, gas and mineral law and mineral management. As an AV-Preeminent rated attorney, Mr. Patterson counsels clients on the most beneficial use of their mineral rights.
Do You Own Minerals?
In Texas, surface rights and mineral rights are severable. When a buyer purchases land, he or she may also be purchasing the minerals beneath the surface or may only be purchasing the surface and improvements thereon, depending on whether the seller has retained mineral rights. Many landowners do not know whether they own the minerals below the surface. J. Randall Patterson and his staff assist landowners in determining what they own by reviewing conveyance documents and performing title searches. In addition, Mr. Patterson can determine if your ownership is subject to any existing oil and gas leases.
Are You Being Paid Correctly?
It is important for all mineral owners to carefully negotiate the terms of an oil and gas lease, including the bonus, royalty, term and surface usage. The lease bonus is the cash consideration paid by an oil or gas company to the landowner for the granting of the lease and is usually based on a per acre basis. Mineral owners who have leased their rights should also be paid a fractional interest of the gross production or market value of the oil, gas or mineral that is produced.
When mineral rights are sold or leased, the right to remove the resource is generally an essential part of the deal. When a company buys or leases mineral rights, it usually also obtains the right to enter the surface property and remove the resource for a specified time. Removing the mineral often requires disturbance of the surface land. If the mineral owner owns the surface rights, he or she should specify the terms of its use in the excavation of minerals and the subsequent payment for its use.
Are You Managing Your Rights in the Best Way?
By properly managing your mineral rights, you can help preserve the longevity of the minerals while maximizing your profit. J. Randall Patterson is highly experienced in mineral management and regularly counsels clients on the best way to manage their land and mineral rights. In addition to counseling on natural resource protection, Mr. Patterson assists clients in negotiating beneficial leases and other agreements. For more information on the services Mr. Patterson provides, see the practice areas overview.