The Oil, Gas and/or Mineral Rights/Interests Disclosure (Form OGMD) is used to inform potential buyers of the current status of the oil, gas and/or mineral rights/interests and to disclose seller’s intent with respect to those interests at the time of sale.
Latest Content
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Oil, Gas and Mineral Standard Forms Updates Coming Jan. 1
- December 15, 2022
- 3 min. read
As of Jan. 1, 2023, Form OGMX will no longer be available in the forms library, as recommended by the task force, who felt as though it was repetitive in nature with the OGMD and felt concerned about making the listing agent sign a document that was listing out disclosures. They went line by line through the forms and took relevant pieces from the OGMX and put them into the OGMD.
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Oil, Gas and Mineral Rights: Back to the Basics
- December 14, 2022
- 3 min. read
Pennsylvania allows property owners to separate the surface rights and the subsurface rights, which are oil, gas or mineral rights. When nothing is done, the property owner owns everything, surface and subsurface rights. The property owner may choose to sell or lease these subsurface rights.
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Agreement of Sale to be Updated July 1
- June 19, 2020
- 3 min. read
Beginning July 1, all of the agreements should have the following elements to them, where applicable: fixtures and personal property, inspection limitations and reports and the Internet of Things and recordings.
