The Barnett Shale and subsurface mineral rights became a hot topic about two years ago. Then it was speculated that the Shale, which is a geological formation or subsurface strata, did not extend into Northeast Tarrant county. Now the speculators have gone out and bought up mineral rights and started to drill all over the place. I don't believe that I've heard anything about the Shale producing crude oil, but I have heard about it producing gas.

Most of my knowledge of mineral rights are about coalfields of Kentucky. Oil and gas are different. With coal, you are talking mostly about strip mining and removing the surface to get to the subsurface. That's not the case in Texas where it is all about drilling to get to the reserves. You are also talking about a resource that is more or less fluid unlike coal or other minerals which are solid.

Drillers do not have to drill straight down to get at the oil and gas. Like water, they only have to tap into the place where the underground puddle or lake is and start pumping. If there is oil or gas beneath your new property, it could be being pumped out from wells drilled at DFW airport or somewhere else far away. Unlike a hard mineral, you cannot tell from where the product is being retrieved . In order to learn if there is actually oil or gas beneath the property, core samples would have to be drilled and analyzed, which is not a cheap venture.

If you have some age on you like I do, you may remember a big controversy about 20 or so years ago about a proposal to slant drill into reserves below national parks to retrieve subsurface oil and gas reserves. The speculators proposed to locate the wells outside the park and tap into the reserves by drilling at an angle into the park. After the controversy in the 1960's and 1970's about the environmental damage that might be caused by the construction of the Alaska pipeline, the companies and the Reagan administration thought that they could get around those objections with this proposal since the surface lands of the national parks would not be harmed. Actually the Alaska scenario was much different, because those objections were about tdangers related to he possibility of a massive oil spill if the above ground pipeline had a leak and the effects the above ground line would have on the migratory patterns of herd animals and others who live in the Artic region.

Title companies have an attorney who is generally an owner. Closings go through a title company and that attorney of record is the legal signatory on the title search and record. Most of the courses being taught to realtors are being taught by title company attorneys who have had to become familiar with the topic. Your realtor should be able to get you all the information you need about the topic. If you need counsel on the issue, the title company attorney should be able to advise you. That's part of what you are paying for.

Another terrific resource is the Real Estate Center at Texas A & M. They are well respected sources on anything related to real estate in the state of Texas. I did a search on oil and gas on their website and pasted the link to the result below.

There is a "Jed Clampett" epidemic of sorts going on out there. Many folks are hoping to cash in big on subsurface mineral rights and move to a mansion in Beverly HIlls or maybe just a nicer place in a nicer neighborhood. Only time will tell how much of the fervor is hype and how much is substance.

When you entered into a contract it was understood that you were getting the mineral rights, and it was not stated in the contract that the sellers keep the mineral rights, correct? You should get them, don't sign any additional amendments or changes. If they don't like it, find yourself another Home to buy. (I wasn't sure if my last response took). Thanks, Michaelle

First of all, I hope you have a Realtor representing you. That sounds like funny business after an agreement has be made. I would not sign any more addendums or amendments. What is in the original signed contract should stand. You should say not transferring the mineral rights will be the deal braker, and move on to another property to buy! EVERYTHING should be disclosed before anyone tries to sell their property. You can email me directly at RMichaelle1@yahoo.com if you need more help. Thanks for your question! Michaelle ,H-E-B specialist, Realtor

It's a big question mark. Three years ago on properties in the city, no one seemed to care. My thought is if you have already moved through your inspection and option period would be to keep them, but it is hard to put a value on them. You might get a royalty check for $13/month for the rest of your life so $1000 might be a good deal for you. You might not get any production from it and maybe oil goes to $1000/barrel next year and they're work lots more? Tough to tell. What is your realtor saying? Many mineral rights were severed from the surface rights in Texas long ago, so in my opinion resale would not be hindered in the future. You might find out from the neighbors if they have signed leases, what bonuses have been paid or are being discussed and if anyone is yet getting production so you can better determine the value.