We just received a division order from Continental Resources and our family LLC royalty interest is 0.01581438. Does that mean our family LLC gets 1.58%? If the well produces 5000 barrels of oil per month can someone tell me how to figure out what that means in dollars. So much to learn!
Vicki Hello, if I may ask, how many people with equal interest are in the family mineral LLC ?
4,735.62 bbl=388,213.81[(- tax) 44,644.60] = net 343,569.21 (@ 81.9774) X 0.01581438 = $5433.3065 This is junk science math, but pretty close. Brian...
Eight of us share it so I can just divide the $5433 by 8! Thanks! Vicki
Vicki: a few things to consider, my quote was at 81.97 a barrel , for instance right now it is $77 and change... there is always the ups and downs to consider. If there is eight equal shares of the 0.01581438 then your decimal share would be approximately 0.0019767 I of course would not presume how your peticular LLC figures in for taxes, but of course they must be anticipated and saved for... this takes away from the bottom line as well........ I wish you luck with your family LLC. Personally a family LLC in my case would scare me to death... Brian...