Someone just told me that land is in “squares “ and if I have rights to almost 4 acres of that square, even if I don’t have a well on my 4 acres, since it’s a part of the square, I’m entitled to get a percentage of anything that has been drilled in that square ??? Someone plz explain or tell me what’s up
Your ‘4 acre square’ is part of a larger pool of acreage. So you would get a percentage of the minerals mined in the larger poor. For example you may have 4/640 acres in the pooled field.
Not all states have measurements in terms of squares. Texas is definitely one of them.
I advise on a 2100+ acre tract. It has been subdivided into smaller tracts of various sizes and shapes. The land owners, who also own some mineral interests, receive part of the bonus when the whole tract is leased. If a well is drilled on 40 acre spacing and, your land in not with that spacing, you receive no royalty payments.
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