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The Million Dollar Elm was an elm tree in Pawhuska, Oklahoma. [1] The tree was the site of auctions for oil leases for Osage County, since mineral rights for the county are owned by the Osage Nation. [2] The first auction was held in November 1912 with Colonel Ellsworth Walters serving as the official auctioneer. [1]
The Osage tribe was one of the wealthiest in the United States, but with the mineral rights transferring to the land owners in 1926, their murder rates also became the highest in the United States. [17] By 1925, Osage families were earning about $65,000 per year, compared to white families that were averaging $1,000. [18]
In the United States, oil and gas rights to a particular parcel may be owned by private individuals, corporations, Indian tribes, or by local, state, or federal governments. Oil and gas rights extend vertically downward from the property line. Unless explicitly separated by a deed, oil and gas rights are owned by the surface landowner.
The Oklahoma Commissioners of the Land Office is an agency of the government of Oklahoma. The Land Office was created by the Oklahoma Constitution and is responsible for managing and controlling lands and funds granted to the state under the provisions of the Oklahoma Organic Act. These lands and fund are used to support common schools ...
When mineral rights have been severed from the surface rights (or property rights), it is referred to as a "split estate." In a split estate, the owner of the mineral rights has the right to develop those minerals, regardless of who owns the surface rights. This is because in United States law, mineral rights trump surface rights. [5]
Oil companies offered $382 million for drilling rights in the Gulf of Mexico on Wednesday after courts rejected the Biden administration's plans to scale back the sale to protect an endangered ...
The Oklahoma Legislature abolished the State Mining Board and replaced it with the Oklahoma Mining Commission in 1985. The Commission is a nine-member board that serves as the governing body of the Department and is responsible for approving the Department's budget, establishing policy and appointing the Director of the Department.
The tribe had retained mineral rights to its reservation. [6] Each tribal member had what were known as headrights to the mineral rights on communal land. [7] [8] When valuable oil was found on their land and leases were sold for oil production, each member with headrights was paid a share of the lucrative annual royalties for leases by oil ...