I'm looking at purchasing a property inside the city limits of Kenedy with the option to purchase the Mineral Rights for an additional amount. I would like to know if the Mineral Rights are worth anything inside the city limits as some cities prohibit drilling inside their city limits, thus making the Mineral Rights worthless. I've been told that it's possible for an Oil or Gas company to drill from outside the city limits and go under the city with a horizontal well to tap the resources without actually placing a rig directly on the property, but I do not know if the City of Kenedy prohibits that as well...
Next question... if access is allowed to the Mineral Rights inside city limits, then how much would the Mineral Rights be worth?
The property is almost 7acres in size and is being sold privately.
Any help would be appreciated!