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To own oil or any other mineral coming from your land, you must have mineral rights in addition to your property rights. In other countries, the government has a sovereign claim over all mineral rights. In the United States, private individuals can own mineral rights, unless already reserved by the government.
If you want to sell the mineral rights to another person, you can transfer them by deed. You will need to create a mineral deed and have it recorded. You should check with the county Recorder of Deeds in the county where the land is located and ask if a printed mineral deed form is available to use.
Mineral rights can expire if the owner does not renew them or if they go unclaimed for a certain period of time. Mineral rights can also be sold, fractionalized, or transferred through gifting or inheritance.
Also known as a mineral estate, mineral rights are just what their name implies: The right of the owner to utilize minerals found below the surface of property. Besides minerals, these rights can apply to oil and gas. Interestingly, mineral rights can be separate from actual land ownership.
The best way to determine who owns the mineral rights on a piece of land is to visit the courthouse and find the legal record of your property or your deed. You can also consult your local tax office, or depending on your community, you may be able to search for your title online.