Recently, you have decided to explore your options with joining forces with other owners of oil and gas royalties in California. One of your options is called a joint operating agreement and if pursued the right way, could potentially result in a wildly successful outcome. At Ehrlich Pledger Law, LLP, we are experienced in providing oil and gas owners with advice regarding partnerships and contract law.
You want to be able to benefit financially from the rich oil deposits under your California property, but you do not want the beautiful land around your home destroyed. Is there anything you can do to enjoy both the surface beauty and the riches underneath?
Owners of wells and real estate rich in minerals in California appear to have many advantages thanks to the state's massive underground reservoirs of oil. The state's economy and many of its individual and corporate residents have relied on the bounty that mining crude oil has provided. With the wealth of buried riches, many people may wonder why production is not increasing to meet the demand for gasoline.