To perfect ownership in the oil and gas beneath your property, you need to be associated with a well - What happens to a farmer who owns a land with a potential oil/gas resource in the absence of a oil/gas well (in particular - INDIA)?
In many, if not most countries property rights at the land surface do not include subsurface property rights (hydrocarbons; minerals) but are instead owned by the state. Ownership/use rights of groundwater are another variation on this theme, as are hunting rights at the surface.
In the USA, subsurface rights are property rights that can be transferred in ordinary ways. Of course, there can be efficiency problems that arise from subsurface rights associated with migratory resources such as water, oil, and gas. On the other hand, there are some regulations that relate to the proximity of wells.
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