KANSAS CITY, MO--(Marketwired - Sep 11, 2013) - Many landowners are finding that they have been sitting on a pile of wealth without knowing about it. Landowners all over the country are discovering that there may be valuable hydrocarbon deposits under their ground, which were previously disregarded because they were not viable as a commodity due to their relative inaccessibility. Van Osdol & Magruder, PC, a Kansas City-based law firm, recently examined how landowners can get the most out of this hidden wealth.
Bob Beachy, senior partner at Van Osdol & Magruder, said, "The combination of hydraulic fracturing, or 'fracking,' and horizontal drilling has led to a boom in oil and gas production worldwide. Many landowners are now being approached by oil and gas landmen who are offering to lease their property for an initial payment plus a promise of royalties if oil or gas is found and produced. These landmen are normally a front for a bigger energy producer who wants to assemble a large tract at the lowest possible cost and doesn't want the landowner to realize the true value of the minerals under the surface."
Beachy added, the lesson here is that without good representation, a landowner might easily make a sale of a valuable part of his property without being appropriately compensated. A good lawyer can help with either the negotiation of a lease or the orderly transition of mineral interests from one generation to future heirs. To paraphrase the old western movie saying, sometimes "Thar's gold in them thar holes."
Van Osdol & Magruder, P.C. is located in downtown Kansas City, Mo. Trademarked as The Biggest Little Law Firm® in Kansas City, the firm focuses on maximizing value for its clients while remaining mindful of legal expenses. Visit the firm's website at www.vomer.com.