If you wish to take advantage of fertile land and possibly make some money off the oil flowing underneath it, then you need to understand the difference between surface and mineral rights. You very well could have both, but if you just have surface rights, your dreams of becoming an oil tycoon could quickly slip away. Ownership is very important in the oil industry in Texas, so knowing your rights is essential when dealing with anything involving your land.
If you own a piece of land then, you probably own at least the surface rights, which according to MineralWise, means you own the land on top. You can farm it, build on it and do whatever you want with the top of your land. The mineral rights, on the other hand, is the right to any minerals found under your land. You may or may not own these.
It is essential to know your ownership rights. When you bought the land, it should have been noted in your paperwork. If you only own the surface rights, you cannot make money off the oil underneath except maybe for access, meaning you can charge for access onto the land and for the placement of things like oil wells. However, you will not get paid for the oil coming out of the ground.
You can see how this is important. It is also complex. If you own only the mineral rights, then you can make money from the oil, but you will have to get permission and work with the person who owns the surface rights. You will probably have to pay them as well for use of the land needed to access your oil. This information is for education and is not legal advice.
