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Such a condition is called a split estate. Once severed from surface ownership, oil and gas rights may be bought, sold, or transferred, like other real estate property. Ownership in the oil and gas rights for different horizontal layers, or strata, may be further divided and sold to different parties.
This is becoming ever more present in the light of recent unconventional oil and gas development (UOGD) made feasible by technological advancement such as hydraulic fracturing. [5] Problems include water pollution, fluid storage issues and surface damages. These are especially common in the West Virginia gas wells of the Marcellus Shale. [7]
Southwestern Energy Company was a natural gas exploration and production company organized in Delaware and headquartered in Spring, Texas. [1] In October 2024, the company merged into Expand Energy. The company's primary exploration and production activities were in the Appalachian Basin in Pennsylvania and West Virginia, as well as the ...
The Texas Pacific Land Corporation is a publicly traded real estate operating company with its administrative office in Dallas, Texas. Owning over 880,000 acres (3,600 km 2 ) in 20 West Texas counties, TPL is among the largest private landowners in the state of Texas .
In 2012, the owner and CEO of Findlay Resources was Jim Finley, [3] who was previously a Texas Certified Public Accountant working primarily with oil and gas companies. By 2014, the company had about 90 employees. [4] Finley Resources has been active in the development of the Barnett Shale and the Texas Permian Baisin, among other energy ...
The Texas Railroad Commission announced in December 2023 that it was suspending permits for oil and gas wastewater disposal in Culberson and Reeves counties along the border of the two states, as ...