Although I’m an accountant by education and training (but new to the mineral rights world), for the life of me I can’t figure out how to translate / reconcile the production bbls on my Conoco Phillips royalty statements with the well production shown on the ND.gov site.
I realize there can be timing issues between the two on when the start and end cutoff dates are, but one would think over several months one could see parallel patterns, but I can’t make any sense out if it.
One example is this new well, file #32923; for nov, dec, jan, feb, mar we have ND Gov bbls at 0, 6690, 24909,32433, and 22169 respectively, while royalty statements for the same time periods show 0, 962, 3933,5062, and 5004 bbls resepectively.
Is there a formula I’m supposed to use to reconcile (or at least understand the difference between) these production numbers?
Would appreciate any input…
Thanks!