Since my parent has been getting paid on mineral rights, 765,402 bbl has been found, 267,185 boe and water has been 1,266,618. I am attempting to figure how much I am owed. Divorce decree says I am to receive 1/2 of all money collected. Those are the statistics I found. Anyone have a General Idea from that info what I am entitled too?
The answer would depend upon several factors-the price or oil and/or gas and natural gas liquids every month, how many net mineral acres are involved, the royalty amount and the terms of the lease under which the well was drilled. Each well has a division order which is a contract for how much will be paid to whom. You would need to contact the operating company to see how they would handle the Divorce Decree and if they would cut you a separate check. You had “m.r.” in your post. Did that mean mineral rights or mineral royalties? Two different but related terms.
Depending upon the spacing acres of a well, there can be one mineral owner up to hundreds of mineral owners for a well, so the range in royalties can be quite large to quite small.
For example, in Oklahoma, the equation for royalties is: net acres/actual spacing acres x royalty x percentages of perforations in your section. If the well is a horizontal well, then the last term may be a percentage if the well goes across more than one 640 acre section. Not all sections are exactly 640 acres, so the first term denominator will change accordingly.
Example: 10 acres on 640 ac spacing with 3/16ths royalty and a one section horizontal well would be: 10/640 * .1875 * 1.00=0.00292969 as the decimal amount. For every gross dollar that the operator receives for payment on the oil and/or gas and/or NGLs, the mineral owner gets that decimal. If the company made $100,000 that month, the mineral owner would get $292.97.
But if the mineral owner only had one acre, then the answer would be different. 1/640 * .1875 * 1.00=0.00029297. The mineral owner would get $29.30.