With the widespread increase of fracking to recover oil, you are seeing more oil well pump jacks popping up in crop fields like cotton nowadays—especially in Texas. But be careful what you negotiate on your land.
For a landowner with mineral rights, high and oil and gas prices can hold promise for a substantial income stream on the farm or ranch.
But an oil and gas lease with an oil company is not something that property owners should enter into lightly. Landowners in the Walker County area will have an opportunity to learn about these complex legal agreements from one of the state's leading experts in mineral rights.
Judon Fambrough will discuss what makes for a fair oil and gas lease when he speaks at a Huntsville Chamber of Commerce workshop during this week. The senior lecturer in real estate at Texas A&M University is also an attorney specializing in property rights, and has more than 30 years of experience dealing with mineral companies and landowners. Topics will include responsibilities and obligations, conditions, payment, land access and other very important details that should be outlined in a lease.
The free workshop, presented by Texas AgriLife Extension Service and sponsored by AgriLand Farm Credit, will be at 7 p.m. on Tuesday, July 24 at the Huntsville, Texas Chamber of Commerce, at 1327 11th Street. For more information on the workshop, you can contact the Chamber at 936-295-8113, or the Walker County AgriLife Extension office at 936-435-2426.
AgriLand Farm Credit is a borrower-owned lending cooperative that finances agricultural production, rural real estate, and agribusiness throughout East Texas. It has its headquarters in Tyler, Texas and has lending offices in Athens, Beaumont, Bonham, Clarksville, Fairfield, Gainesville, Nacogdoches, New Waverly, Paris, Sulphur Springs, and Tyler.
AgriLand is part of the nationwide Farm Credit System.