Contact: Blair Fannin, 979-845-2259, b-fannin@tamu.edu
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- This morning, Judon Fambrough is leading an informative session on issues affecting landowners: water, minerals and pipelines. Lots of ranchers from South Texas area in the meeting room, likely due to the increased drilling activity in the Eagle Ford. The trend continues its movement northeastward as some talk about it being the hottest oil and gas play in the U.S. Fambrough is discussing water issues and recent legislation addressing right of capture in the State of Texas. With regards to water, traditional landowners who have sold land have kept the mineral rights.
- However, many transactions have occurred where the seller of the land retained the mineral rights. The new surface owners now own not only the surface, but the water rights underneath unless specifically named in the reservation with the minerals.
- Senate Bill 332, Vested Water Rights Statute. It did not say legislature recognizes groundwater is an important component of real property ownership. What it did say was legislature recognizes landowner owns groundwater below its property or below the surface. “It located it,” Fambrough said. “But vested water rights says you only own it if below your surface.” However, Fambrough brought up a good point the law doesn’t address if the mineral owner holds interest below the surface as well if the property were sold off at some point.
- It’s hard not forget yesterday’s keynote by Dr. Lowell Catlett, a Regents professor, dean and chief administrative officer in the university’s College of Agricultural, Consumer and Environmental Sciences at New Mexico State. Catlett provided insights and an outlook on the agriculture industry, specifically beef-cattle production, plus the overall current state of the economy.“This is truly the golden age of agriculture,” Catlett said, providing a blend of humor and futuristic outlook to his keynote. He touted the agriculture industry and rising agriculture real estate values.“They’ve gone up three fold over the last 10 years,” he said. “Agriculture has some of the strongest financial statements of any in the industry. What do you think the outlook for beef is?”
- Beef producers were treated to two virtual video tours during Monday afternoon’s general session. Dr. Ted McCollum, Texas AgriLife Extension Service beef cattle specialist, Amarillo, gave a methodical demonstration of a feedyard. Drs. Dan Hale and Davey Griffin, AgriLife Extension meat specialists, walked producers through a packing plant.