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Selling Mineral Rights In Texas And How It Works

oil rig

Mineral rights award the authority to harvest resources from a certain land. However, the word “mineral” may include petroleum, natural gas, metal, and coal. Texas is famous for producing oil and gas. In fact, with many areas rich with resources such as the Eagle Ford Shale and Permian Basin,

Texas has gained a reputation of its own as the country’s largest producer of oil and gas. Living in Texas could mean that you might just be sitting on mineral deposits. Maybe now is the time to find out. 🙂

In this blog post, some of the advantages of selling mineral rights in Texas are mentioned for your perusal.

Advantages of Selling Mineral Rights in Texas

Taxes

Mineral divestiture allows you to reap the benefits of relatively low taxes on capital gains and strategic 1031 property exchange.

The interest in minerals and royalty are real property interests and are classified as capital assets for federal income tax considerations. When it’s maintained for more than a year, the capital asset will be counted as long-term capital gains, leading to substantial federal tax cuts once the property is transferred.

Production Decline

The RRC estimates that from June 2018 to May 2019, the total output recorded by Texas was around 1.4 billion crude oil barrels and 9.2 trillion cubic feet in gas. However, your interest in oil and gas is a scarce and depleting asset. The production of oil wells is steadily declining, and royalties become lower and lower. Horizontally drilled wells undergo a drastic decline in output from the first 30 days.

Minimizing the Timing Threat

Keeping your mineral rights is a gamble if you think somebody will ultimately develop your land area, but further progress can take several years or may not occur at all, based on economic demands. Divesting your mining interests means that you will be paid with no possibility of uncertainty.

Lowering Oil Price Uncertainty

Market fluctuations in the competitive crude oil industry indicate that the volume of your potential monthly royalties is highly volatile. West Texas Intermediate is a reasonably light crude oil, and because of that, it’s used as a standard for fuel pricing. It’s included in commodity price reports, among other major oil brands, such as the UK Brent or the OPEC basket. Once you sell your mineral rights in Texas, you remove the possibility that your prospective royalty payments will be decreased when oil price lowers.

Versatility and Convenience

Not having the responsibility to monitor and validate the monthly performance reports, division directives, and other documentation from various distributors, you can be free to allocate your money and time somewhere more profitable for you.

Diversification of Assets

Diversification is an investing strategy that permits you to boost your visibility to all other markets via equities, bonds, property development, etc.

What’s the Mineral Rights Selling Process in Texas?

Selling mineral rights is considered as a real property trade and the process usually follows this path.

  • The buyer and the seller must negotiate and agree on a price.
  • Legal documentation is signed for both sides during agreements, typically as a Purchase Sale Agreement (PSA) or a Letter of Intent (LOI).
  • The property title is subject to an inspection procedure, where the company sends a landman to the location, and the title is verified.
  • Last is the closure in which the deed or conveyance will be traded for the decided price.

The entire mineral sale process typically takes about 30 days to finish.

Summary

Whether you’re planning to sell your mineral rights in Texas or merely would like to explore the advantages you can gain in doing so, start first by locating a seasoned royalty company to work with. A trustworthy royalty firm has significant exposure to a network of eligible buyers who could pay you the highest price for your rights and will ensure dishonest buyers do not exploit you. If you sell mineral rights in The Lone Star State to the correct purchasers, you can make a huge profit!

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Education

What It Takes To Become A Successful Commercial Driver

licence

These days, just about every adult in the UK has a driver’s licence, but driving for a living is very different from driving for personal commuting or pleasure.

Basically, it’ll be work and you will need to approach it as such if you want to be a success at it. With that in mind, here are some tips about what it takes to be a successful commercial driver.

Education/training

All forms of commercial driving require some form of education/training. For example, taxi drivers have to learn the geography of their local area (even with sat nav, it’s not 100% reliable).

While HGV drivers need to know relevant safety procedures (which may include manual handling to help with loading and unloading their vehicle) and at least basic mechanics (to be able to take care of minor repairs themselves and reduce delays to their journey).

Time-management skills

When it comes to commercial driving, time-management isn’t just about turning up to work on time (although this is obviously important), it’s about managing your time effectively, so that you remain on schedule throughout the entire period of your working day, which, in some areas of commercial driving can be very long.

For example, HGV drivers may work 12-14 hours a day while they are making deliveries and then have an extended spell of leave to recuperate.

People skills

Most commercial driving jobs involve some element of working with people. If you’re working as a taxi or bus driver (or as a private chauffeur) then you will have passengers.

If you are driving goods vehicles, such as HGVs, then you will be dealing with your control staff and also with the people who help to load and unload your vehicle (and possibly maintenance staff as well).

That said some commercial drivers also need the ability to be able to cope with long periods alone. This is particularly true of HGV drivers.

The ability to keep calm under pressure

Even on the best days, things can go wrong, and sometimes we all have “those days” when nothing seems to go right. This is particularly true of people who drive for a living since the UK’s roads are very crowded (as are the roads in many other European countries), which means that, quite bluntly, there is a lot of scope for becoming a victim of someone else’s incompetence, albeit usually only in a fairly minor way.

If you are the type of person who suffers from “road rage” then you will need to look for an alternative career, but if, by contrast, you are the type of person who can keep your cool in just about any situation and then you could become a highly-valued commercial driver.

The ability to keep your focus over long periods

Picking up from the above points, while some issues are unavoidable, many potential hazards/difficulties can be avoided (or at least minimized) if you keep your focus on the road at all times so as to give yourself the best chance of anticipating them.

Even if it doesn’t, keeping your situational awareness will vastly reduce the risk of you becoming a hazard to other road users.

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Education

What Jobs Can I Get With A Supply Chain Management Degree?

contractor

Opportunities in the supply chain industry are expanding from global distribution, sourcing, fulfillment, and sales. The Bureau of Labor Statistics reiterated that supply chain jobs are rising at twice the rate of all other occupations in the US.

Industry growth is behind the rise in demand for supply chain management Masters graduates, which is projected to rise five percent annually until 2028.

Several surveys also revealed that Bachelor graduates go the extra mile and take Graduate studies in Supply Chain Management Masters because of its wide-ranging growth opportunities. Whatever the case may be, below are jobs you can have with a degree in supply chain management.

  • Distribution Manager
  • Purchasing Manager
  • Senior Consultant
  • Project Manager
  • Procurement Manager
  • Warehouse Consultant
  • Business Analyst
  • Logistics Manager
  • Operations Research Analyst

How Long Does It Take to Get A Degree In Supply Chain Management?

In most cases, a Bachelor’s degree in Supply Chain Management is completed in four years and usually requires 115 to 130 credits depending on the course outline and educational institution. A master’s degree, meanwhile, requires roughly 30 credits and can be completed in one year.

More often than not, universities offering master’s programs have three admission cycles per year for supply chain management. The cost of a supply chain management degree may depend on several factors like flat tuition, miscellaneous, and technology fees.

Opt for schools with regional or national accreditation as the transferability of course credit or the student’s eligibility for financial aid might be affected by certifications.

Why Should I Opt for Online Coursework?

In general, students pursuing a degree in Supply Chain Management Masters online develop the skills and knowledge needed to manage everything from acquisition, distribution, and delivery effectively.

Usually, these online programs start with fundamental business administration exercise that concentrates on areas such as microeconomics, organizational behavior, and financial accounting. Moreover, online supply chain management programs may also include courses on operations management, purchasing, logistics, and warehouse management.

Perhaps the most significant advantage of opting for online supply management degrees is its ability to help you bolster your professional network. Not only will it enable you to connect with highly-experienced industry executives, but it also connects you with fellow students around the globe.

Best of all, these online classes are convenient, flexible, and can work with your schedule to ensure a desirable learning experience.

How to Find the Best School for Supply Chain Management?

Perform comprehensive research about universities offering such degree programs. You can also look for reviews and testimonials or speak with current students.

Likewise, check the qualifications of every lecturer and weigh it up against your strengths and weaknesses to find out what you can get. Also, don’t forget to compare program lengths and opt for schools that will take you to the industry quickly.

Other than that, observe how their student support answers to your queries. Is the school interested in you as a student? Did they answer your questions appropriately?

Knowing the answers to these questions will help narrow down your choices and determine the best option for your needs, schedule, and budget.

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Education

Tips for Starting Your Own Business With a Degree From Excelsior College