Mississippi Surface Use Agreement
Description
How to fill out Surface Use Agreement?
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FAQ
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.
To determine if you own the mineral rights on a parcel, you will first need to check the deed. The mineral rights may have been severed from the surface at some point in time. If your deed does not list this information, you will need to contact the County Clerk in the county where your minerals are located.
Conduct a title deed search at the county records office to find the owner history in the title deed. Follow the history of the property through the chain of owners. This can tell you whether the property or land was ever owned by an oil and gas company.
A surface use agreement, which is also sometimes referred to as a land use agreement, is an agreement between the landowner and an oil and gas company or an operator for the use of the landowner's land in the development of the oil and gas.
You can hire a geologist or land surveyor to help you determine if there's something of value on your land. You can also look at mineral rights listings to see if your property has separate mineral rights for sale.
As a mineral rights value rule of thumb, the 3X cash flow method is often used. To calculate mineral rights value, multiply the 12-month trailing cash flow by 3. For a property with royalty rights, a 5X multiple provides a more accurate valuation (stout.com).