Selling Your Oil and Gas Rights

With the recent economic crash, many people have gone to out-of-the-way places to find employment. The oil industry is one of the most profitable and high paying jobs, and with the recent “oil rush” more and more people have come to the oil fields to check their chances of employment. However, oil fields are often far away from population centers in places with extreme weather, meaning working at them can be grueling. Although major oil companies are among the highest provider of profits with significantly large market value compared to other industries, working on the oil fields can be one of the most dangerous jobs a person can have. Working on and off land can put a person’s life in risks than those working in other types of employment. Oil field injuries come in many forms, and often can last a lifetime.

Noise is one of the things that oil field workers should be aware of. Because of the many heavy equipment and machinery that they operate and the long hours that oil operations runs, workers will not only be directly exposed to loud noises in long term, they will also be at risk of serious injuries because of miscommunication. Physical and mental exhaustion are also a big possibly because of long working hours and lack of sleep. Common injuries from working in the oil fields include slip and fall, exhaustion, burn injuries, broken bones and amputations, and vehicular accidents. Another danger of working in the oil fields is the possibility of explosions. Because oil is highly combustible, anything (from static, electrical, cigarettes, open flames, friction heat, and many others) that can cause a spark can lead to an explosion. This means that people working at oil plants should be trained in minimizing their risk of causing explosions. Prevention of these kinds of accidents is key.

Because of the dangers of working and managing oil fields, along with the uncertainty of the oil industry, many people who own oil and mineral rights choose to sell their rights and royalties. According to The Mineral Auction, what makes selling your rights and royalties difficult is knowing who to sell them to and at which price. Depending on the needs of the person selling and their reluctance to taking risk, it would be better to have someone provide advice and necessary legal help when it comes to selling their oil and gas right and royalties. Knowing the risks, profits, and how the whole thing works would give people better perspective on how to make deals and proceed with the sale. Even big companies make accounting mistakes, therefore the need for professional legal help would be required.

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