Can anyone give me the formula to convert nma to nra. I own 5.09125 nma with NPRI burdens of 66.50165%, OGL 1/4 royalty. I’ve attempted to use formulas I’ve found online but the answer I get doesn’t seem right.
I also own a 1/6 interest out of 15 nma for 2.5 nma. But from what I understand the conversion to nra would remain at 2.5 nra because the royalty is 1/8 instead of 1/4. Would this be correct? Is it correct from the language below that my royalty is capped at 1/8 regardless of what the OLG royalty is?
It is stipulated and agreed that said survey contains 611.9 acres of land, so that this conveyance shall be construed to cover and include 15/611.9 fractional part of the one -eighth (1/8) royalty interest in and to the oil, gas and other minerals that may be produced from the above described land.
But it is further stipulated and agreed that the grantee shall havé no interest in the lease bonus or rentals which may be provided for in any present or future oil and gas lease, but the grantee’s interest is limited to production only, it being understood that royalties to be paid under the present or any future lease shall in no case be less than one -eighth of production of the value thereof.
I appreciate any help.