Has Anyone Heard Of This Illegal Practice That Oil Companies Are Doing To Land Owners/home Owners?
They buy the mineral rights of neighboring properties and then drill across the property line(at a angle) from the neighboring property to basically steal all the mineral reserves under the property of the owner of the property when they don't want to pay that owner for their mineral rights under their property.talk about a underhanded sneaky way to steal from another person...
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If they own the mineral rights they can get a court order to extract it if you do not want them on the land. However normally they will not slant drill because the cost is higher to do so. My understanding is that they try to accomodate the owner of the land prior to drilling but have to pay a nominal fee to do so. The bad part about all of this is the owners land gets torn up in the process and realistically the owner does not get paid enough for this trouble.
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That's what i was getting at they are basically cheating the surrounding neighbors while not paying the owner of the mineral rights under their property...this seems kind of one sided for the oil companies to be able to do this...it's like if i tapped into fort knox from another piece of property by buying the right to dig on someone else's property....the sad thing is our government allows them to basically steal from the owner of the property without any compensation ..while the owner is counting on the mineral rights income to pay for the property taxes and upkeep of their property...this seems like a job for" superman" obama and his cabinet to put a stop to this type of practice and make the oil companies deal with the owner of the property instead of using this loophole to steal from another home owner/property owner...i mean don't we own what's under our property when we pay taxes for it......i mean would you expect them to drill under your house/property when your paying for the rights to everything within the boundaries of your property lines...this is like saying you have no rights to what your paying for......: ) later
I have heard way in the past of this practice. I would be somewhat amazed if a larger oil and gas company were doing this. Typically most oil companies today are drilling for Natural Gas. If they drill next to your property and hit a gas pocket then of course this could be coming from under your property as well but you would not be getting any roalties from this.
This is an old trick that is a very confusing issue. Mineral rights are separate form land rights. During the mining era of the US when silver, gold and copper where hot items. Individuals would ofter sell rights to ore which were under the property owned by others. If you were to look at the mineral rights charts it is a wonder anyone could ever understand them as the rights one would assume would go from the property boundaries straight down to the center of the earth and up to the sky but the reality is the property is just the property. They even has sky easements if you can believe that concept. The mineral rights are a separate right from the land rights which is difficult to believe but just how confusing some make things just in case some form of wealth is found.
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In FL one never owns one's oil, gas nor mineral rights, however they do own the water [if waterfront property] to the mean high water line & the airspace above their property up unto infinity...♥Nassy
Same State that gives refuge to the Mafia, O.J. Simpson and of course voting ballot chards! They also are hiding that fountain of youth somewhere.... Could it be in perhaps.... DAYTONA? Lmaolots
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