I have recently signed up with MineraliQ, which is based off of the data I have on EnergyLink; which has a majority of the Operators we receive checks from, but not all. To give you an idea, as far as I know; we have about 1,000 producing wells; MineraliQ has linked us with 704. Of that amount, about 60 of those seem to be lost or unknown. Whatever that means??
My question is this? I receive notifications that a new rig is within 2 miles of a well I have interest in (I have yet to hear about a new permit). The mIQ listed on these notifications are almost always low, but I had one recently that was listed as Medium. What does that mean to me? Do I need to contact the company/operator and ask if they should pay me because of this? What if they just say no? What information do I need to have ready or knowledge should I come prepared with prior to making this call so that I know enough to not be jerked around?
The scores are meant to be qualitative in nature. The “i” information button under Nearby Activity will give more details but here is the breakdown. MiQ/EnergyLink tracks activity near wells you have in-pay not your total mineral holdings (i.e the shape of your minerals/lease). At the end of the day activity within 2-miles is an indication of activity and you can always go to the map to look in greater detail. Even if a new well is drilled, you usually will not receive notice from an Operator in most states until it is producing and a division order is cut. The nearby activity is trying to assist in letting you know about activity before you get something from an Operator. A score of:
Low: Means there is a rig/permit within 2-miles of a well you have in pay but neither the Operator or Well Name matches a well you are being paid on today (i.e not in the same unit). You will need to see if the well passes through the section or abstract you have minerals in to determine viability.
Med: Means there is a rig/permit within 2-miles of a well you have in pay and either the Operator or Well Name matches a well you are paid on today. You will need to see if the well passes through the section or abstract you have minerals in to determine viability.
High: Means there is a rig/permit within 2-miles with the same Operator and Well Name (i.e within a unit you are already in pay on). This has a high likelihood of producing new royalties for you due to the nature of how units work. Not a 100% answer but passes the litmus test of best guess.