Ilios is always looking for new ways to redefine the landowner’s view of the oil, gas and energy sector. Ilios wants to re-brand this industry for the next generation. In May 2019 the United States Patent and Trademark Office approved Ilios’ application for Trademark of the GOT MINERALS? logo. Through design innovation, Ilios wants to […][click to continue...]
If you want to know how to be a landman, you first need to know the law. Every mineral title landman must know the laws of the state they are working. Without a strong legal foundation, you will not go far in oil and gas. You’re out there because a company trusts you to accurately […][click to continue...]
Many mineral owners don’t realize oil lease clauses can stop them from being able to lease their property again for decades. They believe if a well has not been spud by the expiration date of their lease, their lease will expire. Because it seems pretty easy to figure out, right? If you signed a lease […][click to continue...]
When people hear what we do, they go one way or the other. They either see the great benefit landowners enjoy when they get money for minerals, or they think anyone who sells their mineral interests is getting swindled. We’ve written about this before, but it bears repeating; there are countless situations where it makes perfect […][click to continue...]
I’ve got a radical women’s oil business plan for you: get out of your damn way.
I have worked in the oil and gas industry for over 30 years. A lot has changed. I have seen booms. I have seen busts. And I have seen women who could have had booming careers in this industry rob themselves of their potential.
When I started oil and gas was a boy’s only club. Today, you can find women leaders throughout the oilfield. But we could have several more women in leadership positions if we would follow a simple women’s oil business plan.[click to continue...]
We buy minerals. But more than buying minerals, we help people.
Helping people is our drive. It’s our passion.
Unfortunately, the oil and gas industry has a decidedly negative opinion about everyone on both sides of mineral the mineral transaction table.
The same people who complain about oil and gas opponents in the news turn around and play the role of activist making waves in their own industry.
They don’t understand how much lump sum payments can mean to landowners. As a result, they paint with broad strokes calling anyone who buys minerals a crook, and anyone who sells them greatly misled.[click to continue...]
If your family holds mineral rights you inherited a blessing and a responsibility. A blessing because of the abundant wealth that could be right under your feet. A responsibility because there is a lot riding on your knowledge of local oil and gas laws.
But even if you don’t know oil and gas laws inside and out, there is one failsafe you can put in place to guard against problems when you’re buying and selling minerals; the Certified Professional Landman (CPL).
Certified Professional Landmen are not your ordinary, everyday landmen. They are a cut above, a step ahead, and wise enough to know a bird in the hand is worth two in the bush.
Certified Professional Landmen vs. Everyone
We’re not saying CPLs are the only legitimate landmen. Every landman started out as an information gatherer somewhere along the way. Some have reached the RL and RPL levels. But without the extensive experience it takes to even sit for the CPL the person interpreting your mineral deed is at a fundamental disadvantage.
Think of it this way. The landman without a CPL is like counselors. They can meet with you to discuss your issues, and nothing more. CPLs are like doctors. They can discuss your problems, identify the medical (legal) problem, and prescribe the right medicine (legal remedy).
Here are 4 more reasons you should only work with Certified Professional Landmen.[click to continue...]
The vast majority of people in the oil business are good and honest people. If you looked around, the lion’s share of companies who buy and sell mineral rights royalties are fine and upstanding businesses.
Unfortunately, the saying “One bad apple can spoil the whole bunch” isn’t a cliché by accident either. As much as it pains us to say it, some of the companies who purchase mineral rights royalties do not have the mineral owner’s best interest at heart.
The good news is once you know the tactics you can spot them from a mile away.
So let’s talk about some of the common pitfalls that can come up throughout the process. Because your family’s livelihood and legacy are two things you don’t want to lose over two misplaced words in an agreement.
Here are 5 tactics that we’ve seen all too often over the past 30 years.[click to continue...]
The size of the words on a page don’t always convey their true meaning.
Oil and gas lease clauses are no different.
There are a lot of moving pieces in oil drilling programs. The amount of equipment, people, and surprises that come with drilling wells is staggering.
This makes oilfield logistics extremely complicated. Managers across the oil patch put in long hours to ensure everything is in the right place. Time is money, so every operator wants to be as efficient as possible.
Sometimes it works, sometimes “the devil is in the details”.
Oil and Gas Lease Clauses: Mise en Place
Mise en place is an oil old french chef’s idiom. It means “putting in place”.[click to continue...]
You just signed your first of many mineral leases – congratulations!
You have entered into one of the most exciting industries and markets in the world. You’re excited to start collecting royalty payments, and rightfully so.
But, without knowing the ins and outs of the various payments you can receive through mineral leases, excitement can quickly become anxiety.
Mineral Leases: Bonuses, Taxes, Royalties, and More
Oil and gas companies negotiate royalty payments with mineral owners up front. These numbers are included in the language of the mineral leases they execute.
Royalties are calculated as a percentage of the revenue from the minerals extracted from the property. For example, if oil is selling for $60 per barrel and the land owner negotiated a 1/16th royalty, they would receive $3.75 for every barrel of oil recovered from their land.
Royalty payments are subject to federal, state and, sometimes, local taxes. Let’s take a look at a handful of payment and tax scenarios so you can collect royalty payments without receiving collection calls from Uncle Sam.[click to continue...]