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About David Traugott
Expertise
I can answer questions related to the technical issues associated with the drilling and completing of oil and gas wells; very familiar with the cementing process and LWD tools. Limited knowledge of mineral rights and/or royalties.
Experience
Twelve years working as an engineer in the industry both in the field and in the office. Field locations include offshore, land, and overseas. Office locations include Lafayette, LA and Houston, TX.
Organizations
SPE, AADE, IADC, API, IEEE
Publications
SPE Drilling and Completion Magazine
Education/Credentials
-Bachelor of Science in Electrical Engineering, 1995
-Currently working on MBA, 2010 (anticipated)
Past/Present Clients
Major and Independent Oil and Gas Companies.
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You are here: Experts > Industry > Oil/Gas > Oil/Gas > lease money
Expert: David Traugott - 11/7/2009
Question
Who gets the lease money? Surface owner, mortgage owner, or mineral rights owner? The minerals are shared 50/50 by land purchaser and the original land owner. The land is owner financed. The new owner(buyer)wants to know why he did not get any of the lease money.
Answer
This depends on which state you live in; in TX the minerals and surface are either held together or separated at some point in time. Once they are separated they will remain separate forever.
Typically, the mineral rights owner gets the lease bonus money and any mineral royalties and the surface owner gets any money resulting from "damages" (damaged roads, lost trees, etc...).
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