30 some years ago I purchased some mineral rights prior to drilling an oil well. The well was a dry hole and I threw all applicable documentation away. 2 years ago I signed a oil & gas lease for this property through a landman and really wasn't concerned about it because I really didn't think another well would be drilled. I wasn't aware that the Baaken area was a hot area and that fracking had increased the chance for success. Now the well has been drilled and I have looked at the papers I signed and I see that it was only for 1 net acre when I had 154.02 gross. With only 1 net acre I see that I only will probably receive only a few dollars per month. I am retired and have just a few dollars so I hate to go to an attorney to see if the calculation is correct. I expect division orders within the next couple of months. Does the above calculation seem correct?
There is no mathematical formula that can tell us how many net acres you have with only knowing the gross acres. If you had an idea how much you paid for the minerals 30 years ago, that could help.
Its hell when you get old. No I don't recall how much I paid and Iike I said I had destroyed all my old files. Thanks.
Jimmey,
I live nearby in Castle Pines Village near Parker. This is what I do. When you get the division order documents, PM me. I have all the Williams county backup data at my disposal so all I need to see is the lease you signed to make sure the DO is correct.