Advertise on podcast: The Mineral Rights Podcast: Mineral Rights | Royalties | Oil and Gas | Matt Sands

When a landman calls or a lease offer arrives in the mail, most mineral owners don't realize they're at the starting point of a negotiation — not the finish line. In this episode, we use a real question as the jumping-off point for a practical conversation about how to negotiate a better oil and gas lease. We walk through why the first offer is almost never the best one, what third-party lessees are and why they sometimes offer better terms than the operating company itself, and most importantly, why the royalty rate you agree to today will determine the value of your mineral rights for decades to come. We also break down the critical but often overlooked role of cost-free language in protecting your royalty checks from being quietly eroded by post-production deductions, and close with a clear set of steps any mineral owner can take to go into a lease negotiation better prepared. As always, links to the resources mentioned in this episode can be found at mineralrightspodcast.com.

In this episode, we answer questions submitted by Scott, Greg, Charlotte, Clarissa, Sheri, and Paul. In this month's listener Q&A, we tackle a diverse set of questions that reflect the full range of challenges mineral and royalty owners face — from a technical question about appraisal methodology, to a listener navigating a suspicious lease offer, to a Haynesville owner trying to squeeze more value out of a lease negotiation. We also respond to a listener who sent along an article that discussed the Section 45Q carbon capture expansion in the One Big Beautiful Bill Act and we provide a comparison to the mineral owner-focused take that we covered in Episode 297.  Whether you're just starting to untangle inherited rights or you're deep in lease negotiations with a major operator, this episode has something for you. As before, many of the questions in this episode are covered in more depth in my Mineral Management Basics online course, including how to read a legal description, perform a title search, identify nearby oil and gas activity, and determine whether you should be getting paid on a well.  Additional links to resources mentioned in this episode can be found in the show notes at mineralrightspodcast.com.  

In this month's news episode, we break down the energy market fallout from the U.S.-Iran conflict and what it actually means for oil prices (and your royalty checks) for the forseeable future.  As compared to the start of the conflict, recent infrastructure damage has fundamentally changed the price recovery timeline.  We also review how global strategic petroleum reserves are being tapped as a stopgap measure, which specific facilities were hit and why it matters, and why U.S. natural gas prices have so far been shielded from the chaos overseas. On the home front, we also cover a brewing political battle in Colorado that could directly affect mineral and royalty owners in the state, and close with a look at the rig count and what to expect from drilling activity in the months ahead. As always, links to the articles discussed in this episode can be found in the show notes at mineralrightspodcast.com.

In mid-March 2026, the Trump administration announced the largest single-country release of emergency oil reserves in history — 172 million barrels — as part of a coordinated 400-million-barrel release by 32 nations in response to the closure of the Strait of Hormuz. In this episode, we dig into what the Strategic Petroleum Reserve actually is, how it was created, and what the historical record tells us about whether tapping it actually brings down oil prices. We also examine why the reserve is now headed toward levels not seen since the early 1980s, what the "exchange" structure of the current release means for replenishment, and why mineral owners shouldn't panic — but should pay attention. As always, links to the resources mentioned in this episode can be found in the show notes at mineralrightspodcast.com.

Besides my Mineral Management Basics Online Course (and this Podcast), there are only a few options out there designed to help you take your mineral management to the next level. In this episode, we walk through the National Association of Royalty Owners (NARO) Mineral Management Program, which is the only professional certification specifically designed for mineral and royalty owners. It's one of the best-kept secrets in the mineral ownership world, and in this episode we lay out exactly how to use it as a step-by-step roadmap — from building a foundation all the way to earning the top designation in mineral management. Want to learn more?  Check out the links to the Mineral Management Program in the show notes which as always can be found at mineralrightspodcast.com.

In this episode, we answer questions submitted by Greg, James, Greg, Sarah, George, Deborah, and Martha. From Drilled Un-Completed (DUC) wells that seem stalled to inheriting assets you don't fully understand, from IRS estate appraisals to updating an address on a deed, this episode highlights why the details always matter and why knowing the right next step can save you time, money, and stress. Whether you're dealing with one of these issues right now or just want to be prepared when you do, there's something in this episode for every mineral owner. As before, many of the questions in this episode are covered in more depth in my Mineral Management Basics online course, including how to read a legal description, perform a title search, identify nearby oil and gas activity, and determine whether you should be getting paid on a well.  Thanks again to everyone who submitted a listener question!  If you have a question about your minerals or royalties, you can send it to [email protected]!

In this month's news episode, we cover four stories shaping the world of energy and mineral rights right now. From rising oil prices driven by U.S.-Iran nuclear tensions, to the federal government's push to keep aging coal and gas plants running longer than planned, to a Texas family trying something completely new to sell their mineral rights through a sweepstakes — there's no shortage of developments with real implications for royalty owners. As always, we wrap up with the latest Baker Hughes rig count. Check out the articles and resources mentioned in this episode at mineralrightspodcast.com.

If you own mineral rights and want to get them leased, you may be wondering whether you need to go out and find a landman or if someone will eventually come knocking on your door. In this episode, we break down how the leasing process actually works from the mineral owner's perspective. The short answer is that in most cases, when an oil and gas company is ready to drill in your area, they will hire a landman to find you and negotiate a lease. Like the proverbial needle in a haystack, they will dig through county and online records to locate heirs to mineral tracts that they would like to develop so they can obtain an oil and gas lease. But there are some important steps you can take now to make sure you do not get overlooked—especially if you have moved away from where your minerals are located, your name has changed, or if the minerals are still in a deceased family member's name. Check out the show notes for the link to my free Affidavit of Address Change template that you can review with your attorney to make sure they can find you when it is time to lease.

If you've ever inherited minerals and received an unexpected document from an oil and gas company asking you to sign something called a "stipulation of interest and cross-conveyance," you're not alone — and you may not have known what it meant or what to do next. In this episode, we break down exactly what these documents are, why operators use them, when you're likely to encounter one, and what your options are if the ownership percentages don't look right to you. Whether you're a first-generation mineral owner or managing an inherited interest that's been passed down for decades, understanding these instruments could save you thousands of dollars in unnecessary legal fees and help you start receiving your royalty checks sooner. As always, links to the resources mentioned in this episode can be found at mineralrightspodcast.com.

In this episode, we answer questions submitted by Judy, Mike, Douglas, Greg, Gregg, Celeste, and Mike. We break down tax strategies for inherited minerals, what to do when you discover missing royalty payments from years ago, including statute of limitations issues and how operator changes complicate recovery efforts. You'll hear a success story from a listener who found $375 in unclaimed royalties using my free guide that I send to all subscribers to my email list (fill out the form at the bottom of the page if you aren't already a subscriber!).  We walk through the process for verifying whether a "make good" royalty payment is accurate using publicly available production data. We discuss the nuances involved with older leases that are held by production by vertical wells when new horizontal drilling is just around the corner.  Finally, we wrap up with our take on how one mineral owner forecasts future income from 800 wells using decline curve analysis. Whether you're new to managing minerals or have been doing this for years, this episode provides practical, actionable guidance you can apply to your own situation. As always, links to the resources mentioned in this episode can be found in the show notes at mineralrightspodcast.com.

In this February 2026 news roundup, we analyze how Winter Storm Ferne disrupted nearly 2 million barrels per day of U.S. oil production and sent natural gas prices to all-time highs, with spot prices hitting over $30/mmBtu. We explore what these dramatic price spikes mean for your royalty checks and why this recovery looks different from the 2021 Texas grid crisis. We also examine the Trump administration's push to streamline oil and gas permitting on federal forest lands, Greenland's emerging role as a strategic mineral hub, and what flat rig counts signal about the industry's cautious approach to increasing production despite recent price volatility. As always, links to the articles discussed can be found in the show notes at mineralrightspodcast.com.

When U.S. forces captured Venezuelan President Nicolás Maduro in January 2026, headlines focused on the country's massive oil reserves—reportedly 303 billion barrels, the largest in the world. But as we dig deeper into the technical realities of Venezuela's extra-heavy crude, the crumbling infrastructure, and the geopolitical chess match unfolding in our hemisphere, a different story emerges. While Energy Secretary Chris Wright told oil executives that Venezuela could increase production by just 300,000 barrels per day in the near term—barely a blip in global markets of 106 million barrels daily—China has been building satellite ground stations, selling military hardware, and using debt-for-oil arrangements to gain a strategic foothold in America's backyard. This episode reveals why the Venezuela intervention may have far less to do with oil production and far more to do with countering Chinese influence, pressuring Canada in upcoming trade negotiations, and controlling a critical piece of Western Hemisphere infrastructure that was slipping into Beijing's orbit. Links to the articles and resources mentioned in this episode can be found at mineralrightspodcast.com.

In this episode, we answer questions submitted by Nathan, Lisa, Bill, Tina, Rose, Linda, and David.  From dealing with an unresponsive Oklahoma producer who won't pay royalties and won't return calls or emails—a frustrating situation many owners encounter, to what to do when you receive an unsolicited offer to sell your minerals and how to know if it's a fair deal, to lease negotiations and fair lease language, specifically around pugh/retained acreage clauses. These are practical, real-world issues that could save you thousands of dollars if you know how to handle them correctly. Listen to the full episode to hear our detailed advice for each situation. As always, links to the resources supporting each question can be found in the show notes at mineralrightspodcast.com.

The lithium boom sweeping across U.S. oil and gas fields promises transformative new revenue streams for mineral rights owners, but the economic reality behind Direct Lithium Extraction projects tells a far more complicated story than the headlines suggest. In this episode, we break down the actual numbers from Standard Lithium's Southwest Arkansas project—including the staggering capital costs, projected timelines, and the critical price assumptions that determine whether these ventures will ever generate royalties for mineral owners. If you own minerals in the Smackover Formation or any region being targeted for lithium extraction, you need to understand these economics before signing any lease or making decisions about your mineral rights. As always, links to the resources mentioned in this episode can be found in the show notes at mineralrightspodcast.com.

Happy New Year!  In this month's news episode, we cover several important developments affecting mineral rights owners and the broader oil and gas industry (of course the elephant is the room is the capture of Nicolas Maduro but that happened after we recorded this episode, so stay tuned to next month's news episode for our analysis of those events and how they could affect the oil markets).  This month's discussion ranges from a new federal mineral auction platform that mineral buyers should bookmark, to geopolitical tensions with Venezuela that are creating headlines (but may have limited oil price impact as we saw after the US took over Venezuelan oil production). We analyze the latest price forecasts showing oil likely trading in the $60-$70 range through 2026 while natural gas prices have approximately doubled from last year's lows. We examine early 2026 capital budget guidance from major producers and we break down the latest rig count data. As always, links to the articles and resources mentioned in this episode can be found in the show notes at mineralrightspodcast.com.