I'm from Texas too and you are 100% correct. When I was a kid, we bought some property that had a capped well on it but we didn't get the mineral rights with the land. Several years later we had to let the original owners who still owned the mineral rights install a pump jack because the well had come back to life so to speak. We didn't make anything off of the well but we did get to charge them for the road access and road repair costs because we put the road in.
I wish we did get the mineral rights because they discovered the old surveys were wrong and there was also a lot of natural gas. I think they stopped extracting the oil and started pumping out the natural gas for a while. I suspect this is going to be going on a lot now that the entire area has been developed. Once you get about 30 miles west of Houston, there are huge deposits of both oil and natural gas and I understand that the oil is of the light, sweet variety that's cheaper to refine.
I lived in Houston...Worked for Fluor Engineering and put in THE LAST OIL REFINERY in Meterie', La...WOWZA!!!
And yes, that SWEET CRUDE IS THE "MOTHER LODE" of oil...Take out of the ground, put it through a separator stack to take out the impurities and BOOM...refined oil cheaply...
NOTE: NO one KNOW HOW MUCH OIL Texas has but it is a bunch due to West Texas being partially desert...
I'm from Texas too and you are 100% correct. When I was a kid, we bought some property that had a capped well on it but we didn't get the mineral rights with the land. Several years later we had to let the original owners who still owned the mineral rights install a pump jack because the well had come back to life so to speak. We didn't make anything off of the well but we did get to charge them for the road access and road repair costs because we put the road in.
Good on Ya'!!!! Outstanding...People just didn't know back then that the mineral have to be CONVEYED when selling the land...OOOOPS...
I wish we did get the mineral rights because they discovered the old surveys were wrong and there was also a lot of natural gas. I think they stopped extracting the oil and started pumping out the natural gas for a while. I suspect this is going to be going on a lot now that the entire area has been developed. Once you get about 30 miles west of Houston, there are huge deposits of both oil and natural gas and I understand that the oil is of the light, sweet variety that's cheaper to refine.
I lived in Houston...Worked for Fluor Engineering and put in THE LAST OIL REFINERY in Meterie', La...WOWZA!!!
And yes, that SWEET CRUDE IS THE "MOTHER LODE" of oil...Take out of the ground, put it through a separator stack to take out the impurities and BOOM...refined oil cheaply...
NOTE: NO one KNOW HOW MUCH OIL Texas has but it is a bunch due to West Texas being partially desert...
The earth is like a CSTR, a constantly stirred tank reactor. Whatever the reactants are they keep being stirred and oil is the result.
We're lied to about pretty much everyrhing. But at least people are stsrting to see it. Well, maybe 25% of us.