Oil and gas production can be a lucrative business venture. However, before producing oil and gas, you must know if your land has any of these resources. We will discuss how to find out if your land has oil and gas. We will also discuss the drilling process for oil and gas and what you can expect if you decide to pursue this type of investment.
How to Find Out if There is Oil and Gas In Your Land
Consult a Geophysicist
A geophysicist is an expert in identifying mineral deposits resulting from the compression of various materials caused by the earth’s movement. They perform a seismic survey on land using sophisticated technology and advanced equipment that sends shock waves below the earth’s surface and can advise you on how to find oil on your land.
This advanced equipment collects data that lets them know whether or not there is oil in your land and if the amount of oil discovered, if any, is sufficient to require drilling. Consulting a geophysicist is essential because it will save you unnecessary costs and time that would otherwise be invested in the mining process, only to discover that it is not worth it.
Conduct Oil Assessment
To find out if your land has oil, you can hire a professional to conduct an oil and gas assessment. This assessment will involve drilling a few test wells on your property to see if any oil or gas is present. If there is oil or gas present, the professional will also determine how much of these resources are available and how much it would cost to extract them.
You must obtain a state government permit if you decide to drill for oil and gas on your property. You will also need to hire a Drilling Contractor to conduct the drilling operation. The contractor will be responsible for drilling the wells, installing the production equipment, and the day-to-day operations of the well site.
Another way to find out if oil and gas are on your land is by seeing it on the surface in plain sight. This is an unorthodox way of finding oil before drilling into your ground. It is also a much cheaper method of land survey. In this case, if you live in an area with plenty of oil, there is a high chance that your land contains oil too.
For instance, the following states are considered the top oil-producing states in the United States. They include; Texas, which produces about 1.6 billion barrels of oil; North Dakota, with approximately 461.5 million barrels, New Mexico, with approximately 248.9 million barrels; and so forth. The U.S Energy Information Administration lists all these countries.
Partner With Geologists
Some rocks, such as Sandstone, Carbonates, coals, and Shale, are significant indicators of oil presence in a piece of land. Carbonates like limestone (particularly ones with the coarse grain) are known to be rich sources of oil and gas. However, all this information can be obtained by mineral experts such as geologists can get all this information.
This method is used to search for underground minerals utilizing the earth’s electromagnetic field. The difference in rock formations is usually the sole indicator of the presence of oil and other land minerals.
This method is relatively cheaper than conducting a seismic survey. It also saves a lot of time since it can detect any oil or gas sitting beneath your land’s surface, the stratigraphic layer.
What to Do When You Find Oil in Your Land
Finding oil, or any mineral for that matter, in your land may be a tricky situation to be in, especially if you need more information on how to go about it. The presence of this liquid gold in your land may be an advantage or a disadvantage to you, depending on whether you have the right to it.
The following is a guide on how to handle the oil you may have discovered on your land.
First, you have all the property that pertains to a piece of land if it is yours. However, the case is different for oil and other minerals since, apart from your property rights, you also need mineral rights.
In the United States, you are entitled to all the minerals on your land unless they have been reserved for the government before owning that land. In other countries, however, this is not the case since the government is considered to have sole ownership of any mineral rights.
For this reason, it is recommended that you research and find out if the previous land owner had sold the mineral rights before you gained ownership. You can carry out the research in respective and official County Office records.
If you are sure that you own the mineral rights, you now have complete ownership of the oil and gas you have now discovered. You can opt to sell the mineral rights if you have inadequate funds to drill the oil or wait until you are ready to mine the oil.
Do your due diligence. If you are interested in pursuing an oil and gas investment, you must research first. Talk to other landowners who have gone through this process and consult with professionals who can help you make an informed decision.
About the Author
LTC News sponsored content like this reaches an audience interested in aging, caregiving, health care, lifestyle, long-term care, and retirement planning. Your sponsored content article can live on LTC NEWS indefinitely - or for one year, easily and affordably.
Contributor since August 21st, 2017
After you strike oil you might not need a plan to pay for future long-term health care. However, no matter your financial situation, the guaranteed tax-free benefits from a Long-Term Care Insurance policy can give you access to quality care, protecting your 401(k) and other savings from the rapidly rising cost of long-term health care.
Most people obtain coverage in their 50s as part of retirement planning. Several types of plans are available. The resources available on LTC NEWS will help you in your research.
Resources and Tools Available on LTC NEWS
There are a variety of tools and resources that LTC NEWS offers that can help you in your research:
The Ultimate Long-Term Care Insurance Guide - If you like details, you will enjoy this comprehensive guide to LTC Insurance.
Long-Term Care Guides - LTC NEWS has several other guides that can help you plan or find quality care.
LTC NEWS Cost of Care Calculator – Find the current and future cost of long-term health care services where you live.
Frequently Asked Questions - Get the answers to the most often asked questions about long-term health care planning and LTC Insurance.
Filing a Long-Term Care Insurance Claim - Does a loved one - like your Mom or Dad - have a Long-Term Care Insurance policy and need to file a claim to get benefits? LTC NEWS will help. If they don't have a policy, but you need help in getting a plan of care and finding caregivers, LTC NEWS can also assist.
Reverse Mortgages - Learn about reverse mortgages and ask questions about how they work and if you or a loved one would benefit from one.
LTC NEWS - Your Marketing and Advertising Partner
Employ LTC NEWS to promote your website and attract visitors who are interested in your goods and services. Additionally, you can boost the SEO of your website to make it easier for customers to find you when they search for your goods and services.
There are various marketing options available with LTC NEWS. Traditional advertising, sponsored content articles, strategic alliances, and more are available.
Learn more about how LTC NEWS can help market your business, drive traffic, and improve SEO - Advertise With Us | LTC News.
Contribute Content to LTC NEWS
Contributing content to LTC NEWS will help your website or blog's SEO while increasing visibility and traffic.
In the process of informing and educating you can promote yourself, your business, and your website or blog. It can include links to other sites, and you can share the article link once published on your website or social media. However, it must have editorial content exclusive to LTC NEWS and not just an advertisement.
Shared Links and News
LTC NEWS offers a 'helpful links' page so readers looking for additional information can find them easily. You can get a dofollow link to your website on LTC NEWS in exchange for a dofollow link on your site.
Let's work together and help consumers who search for us on the web - Site Request | LTC News.
You can also affordably purchase a dofollow link to your website or blog on LTC NEWS. Just contact the advertising department.
Include LTC NEWS in your press release distribution. If your group, organization, business, political committee, etc., have news to share, send it to LTC NEWS. Email - email@example.com