No. I answered in your other post.
Grace: Not exactly. First, oil and gas aren’t selling at the wellhead for those prices. Oil more like $20.00 and Nat Gas $1.50. But if you want to use $25.00 for oil the formula for determining section 10’s share of revenue for 1.00 acre of minerals at 3/16ths royalty would be as follows: 285 BOPD X $25.00(per barrel) X 0.1875 (royalty) divided by 640.00 acres(unit size) X 0.407216 (Sec. 10’s share of total perforations) X 30 days= $25.50 per net acre per month. Gas formula is as follows, using your $1.88/mmcf: 706 X $1.88 X 0.1875 divided by 640.00 X 0.407216 X 30 days= $4.75 per net acre per month.
Hope this helps.
This topic was automatically closed after 90 days. New replies are no longer allowed.