First, I want to lookup and confirm the TOTAL lease acreage of a pool my lease is part of; perhaps I'm blind, but I don't see how to do that on the TRC website.
Second, I have a document that states "204.95 acres of land, more or less, out of the Maria Del Carmel Survey" and I want to confirm that's the correct total acreage in the pool.
The acreage specified in my lease, and specified on my deed, is 45.5 acres.
So, would my owner interest then be 45.5 / 204.95 = 0.222005367 (22.2005367%) or something else; what's the correct calculation?
Continuing, the royalty specified in my lease is "1/5" so would my "decimal interest" then be... 0.222005367 X 0.2 = 0.044401073 or something else?
Third, the operator is paying based upon a DI of 0.0296007149, which so far I cannot derive from any calculations, so maybe someone knows what I'm doing wrong?
HUGE thanks and a tall cold one (FOB NYC) to whoever can help! :)
TRC does not keep records relating to the pooled unit. That is between the operator and mineral owners. You do not give the name of the document - is it a declaration of pooled unit? Is it the recorded pooling agreement? You can check in the on-line deed records for your county. Do you own 100% of the 45.5 acres in your lease? Or do you own a fractional interest in the 45.5 acres? If you own 2/3 of the minerals, then 2/3 X 0.044401073 = .029600715
The document stating "204.95 acres" is a division order which appears to set out my share of the pool; 204.95 total acres of which 45.5 are mine. There's no mention of 2/3 or partial ownership or any other owners.
The deed specifies 45.5 acres and does not indicate any fractional percentage ownership or co-ownership; I'm the only named owner, and I don't know who could or would possibly be a co-owner.
Thanks for catching that 2/3 amount! Now I have another mystery to solve...???
#1 Most deeds do not specify the fractional ownership, only state the legal description of the tract in which you are being assigned the minerals. The minerals could have been split off years ago and the way you trace that is backwards through the chain of title. For example, someone may have sold the surface and minerals and retained 1/3 of the minerals. Then the surface owner has 2/3 of the minerals. Or there may have been a gift to three children (A, B & C) of 1/3 each and later A sold his interest to B and so in the end B owns 2/3 and C owns 1/3. There is no requirement that all mineral owners sign on the same lease. When you leased the minerals, let's say for $300 per acre, then did you get $13,650 or $9,100? #2 Get a copy of the DPU for your records. It is possible that the unit is more than 204.95 aces and that is the tract that your minerals are in and there are other tracts in which you have no interest. #3 Finally, you can ask the division order analyst about the formula to calculate the royalty decimal and for a copy of the page of the related title opinion.