Thursday, February 8, 2018

Selling Mineral Rights In Amite County Mississippi

Mostly through inheritance, many people own mineral rights in Amite County, Mississippi. A lot of people are surprised to learn that they own the mineral rights or "oil rights" when an oil company landman gives the a call to secure an oil and gas lease. Nice surprise!

Certain tracts of land in that part of Wilkinson County, Amite County and southwest Pike County right along the Louisiana line might be prospective for oil and gas exploration. It is part of an oil 'play' called the Tuscaloosa Marine Shale or "TMS" for short. The TMS is a geologic formation that is known to contain oil but as of yet, has not proven itself to be widely commercial. "Commercial" meaning it makes a profit for the oil company drilling wells in that area.

The TMS has seen dozens of wells drilled over the past couple of decades. Some production was found and in a few places, it's pretty good, as far as oil wells go. In a lot of places, it's not good. Drilling has identified an area that will produce oil, it's just a matter of can the oil companies do it and make a profit. So far, they have tucked their tails between their legs and ran away!

But one company from Australia is willing to take another shot at it. The company is called Australis Oil & Gas Limited and they have formed a subsidiary to try the TMS called Australis TMS Inc. The company bought the oil leases owned by Encana Corporation, one of the companies that gave up.

Another company which has already tried many times in the TMS by drilling deep, expensive wells after securing oil leases from mineral rights owners is Goodrich Oil. They still hold quite a leasehold in the play. Here's to hope that Australis or Goodrich (or somebody!) can figure it out.

If you own mineral rights in southern Amite County (oil rights) or southeast Wilkinson County along the Louisiana line and don't wish to wait any longer for something great to happen in the TMS, you can also sell mineral rights and enjoy sure-thing cash. In some instances, it does not matter if your tract is leased or not. You may be able to sell either way. There is no way to know if the TMS will work out or not, so, for many, it's a great way to enjoy a big cash payday. Or, you can also sell, say, half of your oil rights and gamble with the other half that the TMS turns out good!

To find out if selling mineral rights in Amite County or selling mineral rights in Wilkinson County is an option for you, contact me through the form at the Upper Right section of this page or give me a call and I'll be glad to discuss it with you. Phone number is 318-426-0909.

Good luck to all!