I am looking for a division order(i think) on a old vertical well. Is it the same as what new division orders on horizontal wells or was it based on the lease back in 2011.
Typically the unit formed to drill a vertical well is much smaller than a horizontal drilling unit, so unless you owned the full mineral interest in both units your decimal interest in those wells would be different.
If the vertical well was drilled under the terms of the 2011 lease you mentioned then the royalty percentage and potentially other provisions, like pooling, would be covered by that 2011 lease.
Making sure I have all the documents. Thank You
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