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Oil and Gas Fast Facts
Property Rights and Interests
Property rights: each tract of land contains a set of rights or interests as it relates to use or development. Among those interests are ownership of rights related to development of the surface of the land, and access to the minerals, such as oil, gas, sand and gravel, that exist below the surface of the property. Other examples of property rights could include water rights and air space above the property.
Surface rights: the use of the surface of a property is typically governed by zoning codes which set out allowed development (such as residential or commercial) as well as many design requirements (location, size and design of buildings, landscaping, etc.).
Mineral interests: property rights also include the ability to extract minerals that may exist under the surface of the ground, such as sand, gravel, oil and gas. While local zoning codes also regulate the manner in which minerals can be extracted, there are also stronger State laws which govern mineral extraction. Because it is difficult and sometimes impossible to access minerals once the surface above those minerals is developed, State rules provide certain protections that promote the extraction of minerals before surface development occurs. The Colorado Oil and Gas Conservation Commission (COGCC) regulates and oversees the extraction of minerals.
Severed property rights: as tracts of land are subdivided and sold, it is possilbe and in fact common, that some of the individual interests are 'severed' and sold or transferred separately. For example, water rights are often attached to parcels of land. When those properties are developed, the water rights are often transferred to a government or water district which takes the "raw" water from the undeveloped parcel and then treats it. It is very common for a property to sever and sell its mineral interests separately from the surface use. Historically, the development of the surface area of a property holds the greatest value since it is costly and difficult to extract minerals on a lot by lot basis. However in more recent times, the value of oil and gas has increased to the point that active mineral drilling is common.Oil and Gas Facts and FAQs

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1. Oil and Gas Fast Facts
2. What is the current status of the oil and gas issue in Lafayette?
3. Oil and Gas Frequently Asked Questions
4. How do I find out what the zoning is on my property?
5. What is planned for the vacant property near my residence?
6. What should I do when I receive a public hearing notice?

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