New Mexico Gas Processing Rights Agreement
Description
How to fill out Gas Processing Rights Agreement?
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FAQ
The value of mineral rights per acre differs from state to state. Typically, the price ranges from $100 to $5,000 per acre in several states. In Texas, the average price per acre for non-producing mineral rights is usually between $0 and $250 per acre, as a general guideline.
The royalty rate for restricted, premium tracts, what the office calls the ?most productive state trust land oil and gas leasing tracts,? can be no lower than 18.75 percent and no higher than 20 percent. New Mexico Compared With Other States.
BUREAU OF LAND MANAGEMENT: The BLM New Mexico Field Office maintains information on mineral rights and has a public information room at 301 Dinosaur Trail, Santa Fe, NM 87508, (505) 954-2000, where that information can be researched.
Receive Payment Royalties are a form of payment made to the owner of the mineral rights, in exchange for the right to extract and sell the resource. In the context of mineral rights, royalties are typically a percentage of the revenue generated from the sale of minerals extracted from the property.
On all products, the tax rate is three and three-fourths percent (3.75%) of the taxable value.
Commercial / Residential Read-In Fee (when existing service is active) $40.00* *The rates, fees and charges in this booklet are subject to change upon approval by the New Mexico Public Regulation Commission (NMPRC).
Transfer By Will It is also possible to transfer or pass down mineral rights by will. The right to minerals transfers at the time of death to the individuals named as beneficiaries. If no specific beneficiaries to the mineral rights are designated, ownership passes to the property and real estate heir.
There are two types of rights given to landowners in the state; mineral and surface rights. These belong to a landowner who may own the rights to the land except if either has been severed and resources leased.