The mission of NARO is to support, advocate and educate for the empowerment of mineral and royalty owners.
The estimated 12.5 million private owners of oil and gas mineral rights in the United States are an integral part of the domestic oil and gas industry. As the “landlords” of that industry, royalty owners play a critical first-step role in the development of their vital assets, through an oil and gas lease that assigns the right to drill and produce to an oil and gas operator. In return, they become stakeholders in a drilling venture which may, or may not, become profitable for all parties.
1. Good faith by all is fundamental to the lease negotiations and contract performance and payment process.