I have recently been granted rights to 1/2 the revenue from the extraction of oil & gas from my associates land in Wetzel County WV. Upon review I found the interest was 0.00002388 or .002388%. That seems like an extremely low number to me. Does this look correct?
That is in the realm of normal. The decimal amount is calculated by the net acres/the actual spacing acres x royalty x percent of perforations in your section or a similar third term. For example, 10/640acres x 0.1875 x 1.00 =0.00292969. 10 net acres divided by a 640 ac spacing x 3/16ths royalty x 100% of the perforations within that 640 acres.
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My father has an old oil lease in St. Martin Parish, Louisiana. The original interest was in percentage. Can you calculate it for me what the decimal interest would be if I gave you the figures they gave me?
Welcome to the forum. I do not generally work Louisiana. You would probably get more response if you post in the parish and list the section, township and range and the snippet of the wording to get someone local to respond. If you already have a division order, then you could work backwards to figure out the answer.