We purchased our 10 acre parcel in April 1993, with the mineral rights reserved unto the Grantor. Now 17 years later, there seems to be interest in gas exploration in our area (apparently, they found a very large amount of natural gas out here).
I'm trying to ascertain what the rights are of the mineral rights holder (them), and the surface owner (us). The property is a 10 square, with our home and outbuildings pretty much in the middle of it. I am concerned that if the mineral rights holder gets an offer, we're going to have to let them come in and tear things up as they choose (this is a heavily wooded area, and the state land behind us has already been logged off and destroyed). I'm also concerned about what this might do to the value of our property, since we pay all the property taxes, and it's not looking like we would get any compensation if they tear things up (lowering the value) or strike it big (raising the value). Any input? Is there something we should be doing at this point? TIA!