Those who own mineral rights own a right called the royalty, which is the right to receive production income from an oil or gas well. These oil royalties or oil rights or gas royalties are usually paid monthly. The one who owns the mineral rights usually owns the executive right, which means he owns the right to explore for oil and gas or the right to grant an oil and gas lease to someone else (usually an oil or gas company) to drill for oil or gas. It doesn't matter whether a property is producing oil or gas or not, the royalties can be sold and have done so since the oil business began. The royalties (whether actual income exists yet or not) have a value as long as a royalty buyer can be found. Of course, that is the key -- finding a royalty buyer.
When some people speak of oil royalties, they mean that literally because their royalty rights were specified in the deed to be just oil royalties, not natural gas royalties. But most speak of oil royalties to mean oil and gas royalties. For those who wish to sell gas royalties, they usually mean oil and gas royalties. Either way, it's the same process -- providing pertinent information to a royalty buyer.
Other terms often used by owners are oil rights or gas rights; these terms are synonymous with mineral rights.. And, synonymous with royalty rights. In some states, one cannot own only oil rights or only gas rights regardless what a deed says. When we speak of oil, we mean crude oil and when we speak of gas we mean natural gas (gaseous form), not gasoline, which is refined from crude oil.
For those who wish to sell oil royalties or sell gas royalties, there are many places where oil and gas royalties can be sold, including the states above. For additional info, you might click here. Within the preceding states, there are several oil and gas plays where we have interests and continually add to our large, multi-state portfolio of oil interests and gas interests, including the following: Marcellus shale, Utica shale, Devonian shale, Haynesville shale, Bossier shale, Barnett shale, Eagle Ford shale, Cline shale, Avalon shale, Leonard shale, Collingwood shale, Antrim shale, Niobrara shale, Mancos shale, Monterey shale, Granite Wash, Cana shale, Woodford shale, Cotton Valley trend, Brown Dense, Smackover, Wilcox, Bakken shale, Mississippian / Mississippi Lime, Eaglebine, Woodbine and Tuscaloosa Marine shale.
For the next year or so, we will also have a focus of adding to our mineral rights portfolio by buying royalties in the San Juan basin in New Mexico in the following areas southwest, south and southeast of Farmington, New Mexico: San Juan County, NM; Rio Arriba County, NM; McKinley County, NM; Sandoval County, NM. If you own oil rights near Farmington, NM; Bloomfield, NM; Aztec, NM or Counselor, NM, please call.