Full question:
I grew up in a community where oil wells was pumping for years near our house and property. My question is who is entitled to share in revenues generated by an oil well in a community is there a distant where I might be able to claim possible revenues?
- Category: Oil Gas and Minerals
- Date:
- State: Virginia
Answer:
When a parcel of property is purchased, the mineral rights are normally included with the rest of real estate being transferred—unless it is explicitly stated that the mineral rights have been separated from the rest of the real estate transaction. Therefore, it is typically the owner of the property that the wells are located on who own the right to the oil that is pumped, or else the person who purchased the rights to pump the oil. When oil and gas are pumped from a parcel of land, the person who removed the oil or gas—and is authorized to do so—owns the removed oil or gas as personal property. Generally, neighbors without ownership of the property the wells are located on or without a contract assigning them the right to the oil don’t have a claim on the revenue from the oil.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
