What Areas Of Oil, Gas And Mineral Laws Does Your Firm Handle?
The Law Office of Seth K. Bell represents mineral interest owners throughout the State of Texas. You may own mineral rights throughout the State of Texas even if you do not own the surface. Do not just accept the Oil, Gas, and Mineral Lease presented to you by the operator or their land man. The operator’s form lease is extremely favorable to them and can cost you substantially in signing bonus and expenses against your royalty. The Law Office of Seth K. Bell will stand on your side to negotiate the most favorable lease terms possible on your Oil, Gas, and Mineral Lease.
The Law Office of Seth K. Bell can also review and confirm the accuracy of division orders, ratifications, and other documents received from the operator for mineral owners, royalty owners, overriding royalty interest owners, non-participating royalty interest owners, and working interest owners. The Law Office of Seth K. Bell also assists individuals and families with the transfer or assignment of mineral rights received by gift or inheritance.
How Do Preference Claims Impact The Oil & Gas Industry In The Recent Round Of Bankruptcies?
Over the years, I have represented numerous of oil and gas service companies in collection matters. Service companies are required to sign a Master Service Agreement with the oil and gas operator to perform the services they provide. The Master Service Agreement may permit the operator from 60-120 days to pay the service company’s invoices which makes cash flow difficult on the service provider. The reward is the work can be plentiful and profitable to the service provider.
Unfortunately, oil and gas industry operators are notorious for slow paying or no paying service providers. If the oil and gas operator seeks the protection of bankruptcy from its creditors, the money owed service providers is a low priority claim which often results in little or no payment to the service provider. That is the risk of providing service in the oil and gas industry.
How Do You See The Oil And Mineral Gas Laws Evolving In The Future?
Texas has a long history with the oil and gas industry. It can be hot and cold. Technology in the industry has virtually eliminated the drilling of a dry hole. The oil and gas industry will always be vitally important to the Texas economy. The price of oil and gas fluctuates which drives the amount of exploration activity and has a significant impact on the economy of many Texas communities.
In South Texas, the Eagle Ford Shale has been the dominant source of activity over the past ten years. Most of the area has been leased and is in active production. Currently, the most active area in Texas is the Permian Basin in West Texas. Active leasing and drilling operations are ongoing across several formations.
There are Texans who own mineral rights under land not owned by their family for generations. Sometimes people do not even know they own mineral rights until they are contacted by the oil and gas operator or their land man for a lease. The lease presented will always be very favorable to the operator. It is important to seek the assistance of a lawyer to negotiate the oil and gas lease on your behalf.
For more information on Oil, Gas & Mineral Laws In Texas, a free initial consultation of 30 minutes is your next best step. Get the information and legal answers you are seeking by calling (210) 987-3333 today.
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