What should we require from the oil companies for ceding control to them over more of our land?

The oil companies are not simply given the control over more of our land for offshore drilling. There is a process they will go through to be able to drill there. If you want to get in on the action, you have at least 2 choices, start your own company for oil exploration or invest in companies that already have the business model to perform that work. That oil is worthless unless someone expends the time and money necessary to retrieve it. Why should that money be directly shared with people that haven't risked a penny to acquire it? So, if you want in on the potential profits, invest in the companies that you believe have the best chance of returning a profit.