3.3333/640 x 1.25 - .00065 = .000651041 Maybe he has an 1/8 RI
You are not going to track production from OCC website with the exception production. Even that may not be complete. You can request production records from the Oklahoma Tax commission. There is a charge to look it up. You need the API number and/or PUN. I think 20 wells cost the same as 1 to pull. About 4-6 weeks turn around.
There are also 3rd party databases with records but these are pretty expensive. IHS, Pangaea, DrillingInfo, etc. There may be some holes in the data, and it is usually 4-6 months behind.
Or you can pay a consultant to obtain the info from one of the above.
"My grandfathers rights, which I am claiming a portion of, was for 3.33 acres.
3.33/640 X .1875 = 000975585
Where is my mistake? Any help appreciated"
Robert--the difference between 0.000975585 and the 0.00065104 in the division order could be because you only received "a portion of" your grandfather's 3.33 acres. How much did you get? You say you got only a portion of it, not all of it. Just modify your calculation: [Your share of grandfather's interest] x 3.33/640 x 0.1875 = 0.00065104. Backing into it, it looks like you got 2/3 of his interest:
2/3 x 3.33/640 x 0.1875 = 0.00065039. The difference between 0.00065104 and 0.00065039 could be from the 3.33 acres being carried out farther, to 3.3334. Most oil companies use 4-decimal acreage numbers in calculations. Using the longer acreage number instead, you get:
2/3 x 3.3334/640 x 0.1875 = 0.00065105. They rounded your decimal down so that the division of interest would total 1.0.
Am I correct, that you inherited 2/3rds of your grandfather's 3.33 acres?
Marsha
I was referring specifically to his total interest for simplicity, 3.33. Not my portion. My portion is 1/3 of 1/2 of the total. No need to get into all that. It's the total I am interested in.
I still come up with .0009XXXXX from 3.33/640 X.1875
They state his Decimal Interest is .00065104. I'm sure about the acreage, 3.33, and the 3/16ths. That's why I asked if there was something I was missing. I had deduced the calculation but thought there may be a catch somewhere.
Their number is almost right for 1/8 royalty but still not spot on. I don't want to get into a pissing match with them for a few hundred bucks. I'm looking at less than a thousand after almost two years of production after all. I want to be sure my calc seem correct before I question it with them.
Are you 100% sure he was leased at 3/16?
Let's he was not found and force pooled. The default pooling amount it 1/8 RI if someone does not make an selection of the options within the election period of the order.
I have the lease in hand. 3/16.
Not sure what "selection of the options within the election period of the order." means
The lease was signed promptly. He is long dead. His was the last name Pittsburgh County had registered as a rights holder . For reasons lost to history we, his four grandchildren somehow got found by a landman in the 70's and we have been sent leases several times.
If you follow the thread from the start it shows we were strangers to title but have filed affidavits which they have recognized so now the Transfer Order is being done.
Robert,
The best thing to do, then, is to call Newfield and ask the division order analyst to give you the calculation for how the 0.00065104 was calculated. I have a good friend who works as a division order analyst there, and I'm sure she would be glad to help you. Her name is Kathy Davidson, and you can reach her directly at (281) 847-6055. If your transfer order was issued by another analyst there, she may be required by Newfield to forward your call to that analyst, but I know Kathy will see to it that you get help on understanding how that decimal was calculated. Good luck.
Robert Pierson said:
I was referring specifically to his total interest for simplicity, 3.33. Not my portion. My portion is 1/3 of 1/2 of the total. No need to get into all that. It's the total I am interested in.
I still come up with .0009XXXXX from 3.33/640 X.1875
They state his Decimal Interest is .00065104. I'm sure about the acreage, 3.33, and the 3/16ths. That's why I asked if there was something I was missing. I had deduced the calculation but thought there may be a catch somewhere.
Their number is almost right for 1/8 royalty but still not spot on. I don't want to get into a pissing match with them for a few hundred bucks. I'm looking at less than a thousand after almost two years of production after all. I want to be sure my calc seem correct before I question it with them.
They said it was force pooled so that the royalty is 1/8. I know nothing about this. My guess is that the rights are so widely distributed and obscure, like mine, there were many dozens of names on the spacing court docs, that this force pooling came into effect. Admittedly I'm flying blind here and lack the proper language.
Anyway I signed and will await my little bank deposit.
I am resurrecting this old thread. After all was said and done Newfield accepted our ownership claim and I got a check for the past production of the wells and continue to. They had said they would not issue a check for less than $100 but last December i got one for $98. I figured these things must be about ready stop producing. Then recently I got a check for $10 so I figure this is the end of the line.
But, I got a solicitation to sell my rights in July from Family Tree Corporation. I called thinking it was just a fishing expedition and when they found out the particulars, that being production is very near the end, they would pass. Instead they offered to buy my and my sisters rights for $3550 each. I was shocked at the amount.
OK, let me back up. This is Pittsburg County Section 32 6N R14E, Johnson Wells 1 & 2. My interest is .83 acres.
So we signed the Mineral Grand Deed and Sales Agreement. I have gotten confirmation that they received the documents and was told payment would be made in December.
Again, I am shocked about the amount. In total I have not even gotten $2000 in royalty payments and the wells may not even be producing now. Does anyone want to say why the rights would be worth so much.
I suppose this could somehow not be legit and I will find my rights sold with no money in hand but why should I expect my acreage to be included in some future spacing?
If anyone wants to chime in about the status of these wells or the sale I'd like to hear from you.