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The Mineral Leasing Act of 1920 30 U.S.C. § 181 et seq. is a United States federal law that authorizes and governs leasing of public lands for developing deposits of coal, petroleum, natural gas and other hydrocarbons, in addition to phosphates, sodium, sulfur, and potassium in the United States.
Major points in a lease include the description of the property, the term (duration), and the payments to the lessor. [6] Lessees of mineral rights have a right of reasonable access to leased land to explore, develop, and transport minerals, [7] unless the lease specifies otherwise (a "no-surface access" lease).
When mineral rights have been severed from the surface rights (or property rights), it is referred to as a "split estate." In a split estate, the owner of the mineral rights has the right to develop those minerals, regardless of who owns the surface rights. This is because in United States law, mineral rights trump surface rights. [5]
A typical drilling lease can generate bonuses for its owner worth thousands of dollars per acre and a share of production profits as high as 25 percent. ... oil and gas operators will pounce on ...
30 U.S.C. ch. 4—Lease of Gold, Silver, or Quicksilver Deposits When Title Confirmed by Court of Private Land Claims; 30 U.S.C. ch. 5—Lease of Oil and Gas Deposits in or under Railroads and Other Rights-of-Way; 30 U.S.C. ch. 6—Synthetic Liquid Fuel Demonstration Plants; 30 U.S.C. ch. 7—Lease Of Mineral Deposits Within Acquired Lands
Leasing agents aggressively sought out acreages to lease mineral rights in Pennsylvania. [21] The price for leasing rose from $300 per acre in February to $2,100 in April, 2008. [22] Only four Marcellus wells were drilled in Pennsylvania in 2005, but by 2010 1,446 Marcellus wells were drilled in Pennsylvania. [21]
The mining company pays the landowner a lease, dead rent or a royalty. The rights to above- and below-ground minerals (as a rule quarries and mines) may be awarded separately. One exception among Commonwealth common law countries is Australian mining law, under which virtually all mineral rights are held by the Crown.
Mineral interest is the percentage of real property interest after severance of oil and gas from surface rights. [4] Tract participation factor is the number of lease acres of the lessor divided by total number of acres. [5]
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