Can someone enlighten me on the difference between Net Mineral Acres and Gross Mineral Acres? Thanks!
Say you own 5 mineral acres in the NE/4, which is 160 acres (gross acres). Its been divided up over time, your 5 acres (net acres) are what you own in the total 160 acres.
Assume, if you will, a 100 gross acre tract of minerals. Now you own a 1/2 interest in the 100 acre tact so you own 50 net mineral acres.
In the above scenarios, the net mineral acreage is an undivided interest in the gross acres of the tract. Leases specify the gross acres in the legal.