It used to be that many Texas landowners kept their mineral and royalty rights without question, but ,this way of thinking is changing, and for good reason. Mineral and royalty  owners are becoming more and more aware of the difficulties and duties that come with taking care of these valuable assets. Unpredictability in the oil and gas markets due to geopolitical events and the move from investments in hydrocarbons to renewables has made many people rethink the retention strategies they have used for a long time.

Passing down mineral and royalty rights to heirs through the act of conveyance is another important topic to discuss with family members when managing your mineral royalty rights in the Permian Basin. If you don’t have a probated will in place, this can cause delays down the road for your heirs, as well. 

One important thing to learn from these market changes is how important it is to know how much your assets are worth, especially when thinking about selling mineral rights in Texas. But in order to know how much your assets are worth in the Permian Basin, it is first absolutely necessary to make sure you know exactly how much you own and where. 

For example, do you know how many Net Mineral Acres or Net Royalty Acres you own? Not knowing the difference between NMA and NRA  is a common mistake that could be very costly if you aren’t educated on these terms.