Family has well lease on this well just fractured. Received Division order. Can anyone tell me how I can track how much well is producing. And calculations of disbursement. Our lease was very good did my research when we signed that just want to track it.
Thanks
Adam:
You can go to the NDIC website and sign up to recieve this production info. There is a cost for this subscription but it will provide the information you need regarding production figures. In calculating royalty, this will be based on the size of the spacing unit (which is normally 1280 acres), your total net mineral acres, the sale price of the oil and the amount of oil being produced or sold. You can go the Mantra Land Services website, and find oil calculators whereas you just plug the figures in and it will calculate the daily rate. Of course, there are other costs such as transportation which will have to be figured in unless your lease specifies otherwise.
Dear Adam,
My family has a lease on Candito as well. Received the Division Order from Oasis yesterday. Candito will come off the confidentiality list on May 9th. according to the NDIC website so I guess we'll only know the production figures at that time. However from the montly production reports it appears as production started late November and they sold 3774 bbls in December and another 4893 bbls in January so most likely the production figures will be in the same area.