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The oil and gas industry relies on thousands of hardworking, experienced professionals to ensure that pre-drilling and exploration activities go off with minimal interruption. While many observers are familiar with the role of the landman, the duties that other land professionals fulfill may be less widely recognized and celebrated. For aspiring land professionals and those who have business with the oil and gas industry, it's crucial to understand the day-to-day responsibilities of these employees.
Most know, the surveying business is far from cut-and-dried. For professional land surveyors, a typical workweek can present a host of challenges that resist easy solutions or "quick fixes." While it would be impossible to catalog and quantify all of the challenges that land surveyors face, the following issues arise often enough to warrant special consideration.
The American oil and gas industry is in the midst of an historic boom. Propelled by several crucial new technologies as well as increasing demand for hydrocarbon products in the developing world, prices haven't meaningfully declined with the recent increase in supply. Although it's unclear whether this trend is sustainable over the long term, it may be useful for aspiring oil and gas workers to take stock of the industry's current competitive landscape.
Although the U.S. oil and gas industry has enjoyed a secular expansion for much of the past decade, finding a lucrative job in the space isn't as easy as walking into a drilling office or calling up a connection in the industry. However, aspiring landmen who wish to invest in their future can take several steps to find meaningful, long-term work that builds experience and leads to future opportunities.
Oil and gas landmen often work long, irregular hours to fulfill their duties. While this sub-field generally compensates experienced workers well, there are plenty of drawbacks to it as well. For starters, oil and gas landmen must deal with a variety of tax issues that workers in other fields simply don't have to consider. Learn more about how the IRS expects landmen to complete their taxes and what steps said workers can take to reduce or mitigate their tax burdens.
The oil and gas industry has long been one of the most important drivers of the Texan economy, and the state's regulatory framework is notoriously sensitive to its needs. In many cases, Texas State Legislature bills live or die by the lobbying efforts of well-placed representatives of various oil and gas firms. The story of Texas SB873 underscores this trend and offers guidance for future legislative efforts to regulate the energy exploration business in Texas and elsewhere.
The American system of private property is founded on the establishment of reliable boundaries between parcels. In the absence of such boundaries, disputes and misunderstandings flourish. Whether they need to understand whether a newly drilled oil well lies on their property or wish to make improvements in an area that's adjacent to an apparent boundary, it's crucial for landowners to understand the exact limits of their parcels. If knowledge of these limits has lapsed, landowners may need to commission a re-establishment or boundary survey.
In Texas, land law is not always as simple as it initially appears. One issue that vexes landmen, legal professionals and landowners alike is the matter of life tenancy. Although the granting of so-called "life estates" is not as common as it once was, the matter still arises often enough to warrant discussion. Learn more about how to handle a life tenant and when to apply the Open Mines Doctrine to his or her lease.
Every year, hundreds of thousands of homeowners prepare to refinance their mortgages. In recent years, favorable financial conditions have led to an upsurge in this trend. While it's always advisable for homeowners to speak with financial professionals who have an intimate knowledge of their specific circumstances, it's certainly possible to generalize about the pros and cons of refinancing. If you're thinking about employing this method to reduce your monthly mortgage payments or free up much-needed capital, take a moment to learn more about it.
From time to time, even landowners who enjoy amicable relations with their neighbors may be parties to legitimate disagreements over the location and nature of their properties' boundaries. Since it can be difficult or impossible to transfer or deed land without precise knowledge of its boundaries and ownership, it's absolutely crucial for property owners to maintain full, clear control over their bounds. Also known as "acquiescence to a boundary line," the law of acquiescence offers a long-term framework for establishing such control and reaching amicable arrangements with neighbors.
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