Martha, what is your opinion of MineralIQ?
I use it frequently. It is not perfect, but no software is. It only has the operator information for the owners that belong to its network. The data lags a bit. For example, I have a brand new check that came in today through Energy Link, but MinIQ doesn’t have the three new wells that are clearly on the check. Not sure what their lag time is for scraping the data from the operator info into MIN IQ. They will land there eventually.
It is very handy for getting the API numbers for my wells. Absolutely critical piece of information!
It is nice to see a map of the wells. And get alerts for nearby activity.
I would not trust the Portfolio prediction numbers since that is their internal algorithm and is only a ball park number for me. It is my understanding that is based on multiples of past revenue and not future revenue. I could be wrong. We have had all of our wells run by a professional engineer, so I understand how that prediction is done and what price deck they use for the future.
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Martha, will this Monitor any and all Wells no matter where located or what company is in charge?
At this time, the Mineral IQ only reports wells that belong to operators in their Energy Link database. Their Drilling Info product monitors all wells, but is a pay platform. Min IQ is designed for revenue for smaller owners.
Another free platform for well data is www.welldatabase.com They are a pay platform, but have a free portion of the platform that does not have all the bells and whistles but can give maps and well locations. They are scraping data from the state websites and putting it all in one place.
I also use it and find the alerts on nearby permit activity helpful. I do wish it had the ability to upload mineral interests owned. It’s a minor thing but in places where our rights are portions of sections, it would be nice to easily see where activity is related to what is owned.
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