When most people buy their property they do not usually pay attention to the mineral rights portion at their closing unless they are smack in the middle of an Oil Field, Gold District, or Coal Mining town. Well with the Niobrara Oil play, many people who never thought they had oil and gas under them must now face the reality, they have oil underneath their property.
It is an unfortunate fact that most Mortgage Title companies include information about a properties Mineral Estate that is either outdated, or flat out wrong. Most (not all) did not do the work to research the minerals adequately due to the cost and time involved so instead they include a blanket rider that says your minerals are owned by “Union Pacific” or some other company. You cannot trust what is in your closing papers! The only truth can be found by researching it. Don’t worry its not that hard and you can do it yourself and we will tell you how to do it.
Other, more fortunate people reading this may have already been contacted by an Oil or Land Leasing company about purchasing their mineral rights, thinking it is some sort of joke. Believe me, it is not a joke. No company will contact you if you do not own some portion of the minerals on your land. They have already researched your land, and you can bet that you own it and they want to enter into a leasing agreement with you. If you are in this category you don’t need to do any research, it has already been done for you. All you have to decide is if you are interested.