Journal Title
Mississippi Law Journal
Volume
93
Issue
4
First Page
811
Document Type
Article
Publication Information
2024
Abstract
Oil and gas law focuses on the subsurface mineral estate, which is just what it sounds like: the estate that entitles one to the subsurface, to the stuff that is underground. That, of course, includes the minerals under a given piece of property, and the value associated with that is enormous. So, it is a big deal to have the right to minerals, and, if I convey to you "the mineral estate" of Blackacre or "the minerals under Blackacre" or something similar, then I have given you something very significant, indeed. As such, it is critical to know just what "part" of the mineral estate you are getting.
This is a recurring issue in oil and gas law because a mineral estate is a complex interest. It can be shaped and molded in many different ways, and these variations can convey radically different rights (with radically different values), but they often result from very similar - or, at least confusingly similar - creating language. Thus, a conveyance of the minerals "produced and saved from Blackacre" will generally be held to transfer something totally different than a conveyance of the minerals "in and under Blackacre." Similarly (in terms of demonstrating the confusion surrounding mineral rights), a conveyance of the "oil, gas, and other minerals of Blackacre" may or may not be deemed to convey gold, silver, or other precious metals. Sure, generically, the term "mineral" includes oil, gas, and things like gold, uranium, aluminum, etc., but generically does not cut it when billions of dollars are at stake, as is the case when we think about the values associated with mineral rights that are routinely bought, sold, and otherwise traded throughout the country.
Recommended Citation
Chad J. Pomeroy, Oil & Gas and Corpus Linguistics, 93 Miss. L.J. 811 (2024).
Recommended Citation
Chad J. Pomeroy, Oil & Gas and Corpus Linguistics, 93 Miss. L.J. 811 (2024).