i got mineral division order today and think the decimal is wrong what should it be i have 10 acres multi unit well and my lease is 1/5 with a 50 percent well split
If this section is a true 640 and a true 50/50 split, then your decimal should be .0015625. That being said, if your interest is in the western or northern bordering sections of the township (i.e. sections 1,2,3,4,5,6,7,18,19,30,31) then there is a good possibility that your section is not a true 640. If you can supply the section township and range I can tell you if it is a true 640 section.
Many of the current Horizontal wells are pooled at 1280a,(or less)( the amount pooled is shown on your DO) so your % would go down by 50% of an amount calculated based on 640 a … It sounds like you have 5 nma (or less-if you have odd shaped Sections) in ~1280a. And of course you would use your Royalty percent (1/5) against this – Get the numbers off your DO and (( your NMA)/ (Total areas )) x (1/5)
close to 0.000781 ???
I am not a Landman or Oil Prof or attorney – just an interested forum member
Texhomex has the correct decimal interest. Very few units are 1280 acres. Most are multi-section units. Therefor the calculation is: Net acres divided by unit size times royalty times your section’s percentage of the multi-unit size. Or 10/640 x 20% x 50%= 0.0015625. This assumes your unit having 50% of the wellbore perforations.
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Keep in mind that a division order is not technically required in Oklahoma. But make sure they have your W-9, address, contact information and direct deposit if offered.
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