On my schedule of property, it has the phrase (“An Undivided One-half Interest in and to all of the following Oil and Gas”) , then lists the area. What does this meen? do i figure my decimal Interest differently? or is the production halved ? i have the lease of 3/16 and the acres , along with production reports , does this change something? I have 2yrs of suspended royalties due and was trying to figure out how it works . Thanks for the time. Darrin Kay
If you will spell out the rest of your description which will probably have a more complex set of words such as W2 SW4, etc. That description will tell how many gross acres and then you will have half of it most likely.
Thank you M_Barnes , it is 57.8 acres , that will help with the royalty calculation now at 28.9 acres
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Does the lease say 57.8 acres or does the description add up to that? The original parcel may have been the 57.8 acres, but your portion is less.
The decimal amount you are entitled to for the division order is calculated by the following equation:
net acres/spacing acres x royalty x % perforations in your section If the well is a one section well, then the last term is 1.00. If the well goes farther than one section, then the OCC will determine the percentage in each section.
For example, 10 net acres of a 640 acre spacing at 3/16ths will give: 10/640 x .1875 x 1.00= 0.0029292969 for a decimal amount. If you are in suspension, then contact the operator of the well. The issue is more likely to be a title that needs to be cured.
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Often the exact mineral interest is unknown by the attorney handling the probate. What you inherited would be your proportional share of that person’s interest in those acres. I suggest obtaining a title requirements report from the company’s division order analyst. You may need to have a probate or quiet title to determine your interest. Richard Winblad
Thank You M_Barnes and Richard Winblad … I just finished a probate, currently trying to get set up on “pay status” with Roan Energy. Thanks for the info , i will try to get a copy of the title requirements reoport. I was using the acres of “57.8” off of the many offers to purchase the mineral rights, which i now see can be totally different numbers on the report , Thanks for the help.