Travis Texas Exploration Agreement refers to a legally binding contract entered into by parties involved in the exploration and development of natural resources in the Travis County area of Texas. This agreement outlines the terms and conditions governing the exploration activities, including rights, obligations, responsibilities, and potential risks associated with such projects. The Travis Texas Exploration Agreement facilitates collaboration between energy companies, government agencies, and landowners to carry out exploration ventures, primarily focusing on oil and gas reserves, but may also encompass other valuable resources like minerals or groundwater. This agreement ensures that all parties involved adhere to state, federal, and local regulations governing resource extraction and environmental conservation. Different types of Travis Texas Exploration Agreement can be identified depending on the specific purpose, participants involved, and targeted resources. These may include: 1. Oil Exploration Agreement: This type of agreement focuses solely on the exploration, discovery, and extraction of oil reserves in Travis County, Texas. It establishes the terms for accessing and using the land, royalty payments, resource ownership, and environmental protection measures. 2. Gas Exploration Agreement: Similar to oil exploration agreements, gas exploration agreements specifically pertain to the exploration and extraction of natural gas reserves in Travis County. This agreement details the terms for accessing the land, gas pricing mechanisms, financial arrangements, and regulatory compliance requirements. 3. Mineral Exploration Agreement: This agreement type encompasses exploration ventures aimed at identifying and extracting valuable minerals found in Travis County. It outlines the rights and obligations of the parties involved, including access to mining areas, royalty distributions, land reclamation, and environmental protection strategies. 4. Groundwater Exploration Agreement: In regions where groundwater is a precious resource, exploration agreements can be established to govern the responsible extraction and management of water supplies. These agreements typically cover the terms for accessing wells, pumping rates, recharge mechanisms, and conservation practices protecting aquifers. In summary, Travis Texas Exploration Agreements are comprehensive legal instruments designed to govern various exploration projects in Travis County, Texas. These agreements ensure the sustainable and regulated exploration of oil, gas, minerals, and groundwater resources, promoting responsible resource extraction and environmental stewardship.
Travis Texas Exploration Agreement
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HISTORY. Enacted in 1919, the Relinquishment Act, as interpreted by the Courts, reserves all minerals to the State in those lands sold with a mineral classification between September 1, 1895 and June 29, 1931.
A state Free Royalty interest is similar to a non-participating royalty interest. An oil, gas, or other mineral lease on land in which the state reserves a mineral or royalty interest is not effective until a certified copy of the recorded lease is filed in the General Land Office.
Under Texas law, if the mineral rights are separate property, then the bonus payments and royalty payments are separate property. If the mineral rights are community property, then the bonus money and royalties are community property.
The controversy finally made its way to the Texas Supreme Court in 1928, in Greene v. Robinson.
In 1919 the Legislature passed what has become known as the Relinquishment Act of 1919. It purported to relinquish to the owners of the land, the State's oil and gas rights in the land, retaining a 1/16th royalty interest for the State.
Any land on which the state retained the minerals after 1876 was called mineral classified land. Most of this land is located in the Trans-Pecos Region. As interest in development of oil and gas grew, the state began leasing more and more of the retained mineral acreage (mineral classified land) to oil companies.
As a general rule of thumb, the value for non-producing mineral rights will nearly always be less than $1,000/acre. In most cases, the mineral rights value in Texas for non-producing minerals will be $0 to $250, but producing minerals $25,000+ per acre is not unusual.
Mineral rights in Texas are the rights to mineral deposits that exist under the surface of a parcel of property. This right normally belongs to the owner of the surface estate; however, in Texas those rights can be transferred through sale or lease to a second party.
In Texas, Oklahoma, Colorado and Montana, mineral owners can own the mineral rights indefinitely and there is no way for them to passively revert to the surface owner. If a surface owner wants to own the mineral rights under their land, they must find and contact the mineral owners and offer to purchase them.