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Texas | Why do those who don't own their minerals act shocked and get mad when whoever does own them wants to extract them?
I know many landowners who have their minerals and are millionaires because of it. Many make way more money from oil royalties than they ever would farming. One guy I heard about gets over 100k a month from a single well on his property and they are planning on drilling more. Good for him.
On the other side you run into people who don't have minerals. Either they bought property knowing up front they were not getting them or they inherited property where their ancestors sold them off years ago. In our area the minerals are worth 3-5 times more per acre than the surface.
So you have 100 acres where the farmer paid 300k for it and the oil company paid a million or more for the minerals and the farmer gets mad when they want to capitalize on that investment. Don't get me wrong I am all for property rights and being compensated fairly for damages done to the surface but I just don't get the attitudes many people have on this subject. | |
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Why do those who don't own minerals....
