# Don't even know what questions to ask
**URL:** https://www.mineralrightsforum.com/t/dont-even-know-what-questions-to-ask/18663
**Category:** McKenzie County, ND
**Created:** [January 17, 2013, 12:00am UTC](https://www.mineralrightsforum.com/t/dont-even-know-what-questions-to-ask/18663 "2013-01-17T00:00:57Z")
**Posts on this page:** 9
**Page:** 1
### Author:  [@lissa\_halleck](https://www.mineralrightsforum.com/u/lissa_halleck)
#### Post date: [January 17, 2013, 12:00am UTC](https://www.mineralrightsforum.com/t/dont-even-know-what-questions-to-ask/18663/1 "2013-01-17T00:00:57Z")
Hi all. Glad to be a part of this community. It is all so overwhelming I don’t know where to start. As best as I can roughly estimate, my mother owns the mineral rights for about 75 sections of land in ND (4 pages worth) some titled Charlson Deep/Clear Creek, Hoffman Madison Unit, Federal, Wollen etc. A map I looked up shows many plugged wells on some of the land and active wells on others. Many have a carrying value of 1.00. How is a carrying value determined? One example has a gross income of $4,345.03 yet net after depletion was $385.00. Depletion = $3,467.12. What is depletion and where did the $3,467.12 go? Thanks in advance for any information. I’m sure more questions will follow.
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### Author:  [@r\_w\_kennedy](https://www.mineralrightsforum.com/u/r_w_kennedy)
#### Post date: [January 17, 2013, 12:11am UTC](https://www.mineralrightsforum.com/t/dont-even-know-what-questions-to-ask/18663/2 "2013-01-17T00:11:35Z")
Could you please define what you mean by carrying value?
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### Author:  [@lissa\_halleck](https://www.mineralrightsforum.com/u/lissa_halleck)
#### Post date: [January 17, 2013, 3:44am UTC](https://www.mineralrightsforum.com/t/dont-even-know-what-questions-to-ask/18663/3 "2013-01-17T03:44:22Z")
It is a column listing on the asset list.
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### Author:  [@r\_w\_kennedy](https://www.mineralrightsforum.com/u/r_w_kennedy)
#### Post date: [January 17, 2013, 3:55am UTC](https://www.mineralrightsforum.com/t/dont-even-know-what-questions-to-ask/18663/4 "2013-01-17T03:55:08Z")
Asset list from a probate? I don’t have a context to put the term in, and it may not be useful outside of a specific context.
If there are leases and agreements, you need to collect those so you can read them, and I don’t think you will ever have a clue to what is going on until you do. I would be glad to help if we can find something to get a solid grip on.
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### Author:  [@lissa\_halleck](https://www.mineralrightsforum.com/u/lissa_halleck)
#### Post date: [January 17, 2013, 1:59pm UTC](https://www.mineralrightsforum.com/t/dont-even-know-what-questions-to-ask/18663/5 "2013-01-17T13:59:46Z")
Thank you very much. I have requested them and are being sent. Guess I’ll hold until I get them. My Mother has had these since 1960. We can’t believe she hasn’t gotten any royalties. A landman contacted my cousin about unclaimed land and found it was ours too. Seems they want to drill on it too. I have picked one example to learn on…it is T152N R96W, Section 3: Lot 11; Section 27: SW4; Section 28; SE4; T153N. R95W. Section 4; NE4 T154N R95W Section 33; S2. I think I was able to plot this one and found active oil wells. Will wait until I get more info.
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### Author:  [@Joan\_Downey](https://www.mineralrightsforum.com/u/Joan_Downey)
#### Post date: [January 19, 2013, 4:51pm UTC](https://www.mineralrightsforum.com/t/dont-even-know-what-questions-to-ask/18663/6 "2013-01-19T16:51:08Z")
Lissa,
I believe the term net after depletion has to do with your taxable income. And the carrying value is the percent allowed. But I am not an oil and gas tax accountant so I am not positive. I would ask the operator or check with the IRS. I am a landman however and may be able to assist you in other ways. I am sure you will have a lot of questions in dealing with your mother’s interest. Send me a message and friend me on this forum. I’ll help if I can.
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### Author:  [@lissa\_halleck](https://www.mineralrightsforum.com/u/lissa_halleck)
#### Post date: [January 20, 2013, 2:42am UTC](https://www.mineralrightsforum.com/t/dont-even-know-what-questions-to-ask/18663/7 "2013-01-20T02:42:03Z")
Hi Joan,
Thanks for the info. I am presently waiting on some paperwork and will go forward from there. There is so much to learn. I have barely scraped the surface. I will have many questions when I see the leases, etc., I think.
Thanks.
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### Author:  [@Gerald\_Melby](https://www.mineralrightsforum.com/u/Gerald_Melby)
#### Post date: [January 25, 2013, 6:28pm UTC](https://www.mineralrightsforum.com/t/dont-even-know-what-questions-to-ask/18663/8 "2013-01-25T18:28:59Z")
75 sections is big, but how many acres? You will need to check your lease’s 75 sections sounds a little much?
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### Author:  [@system](https://www.mineralrightsforum.com/u/system)
#### Post date: [August 15, 2018, 2:55am UTC](https://www.mineralrightsforum.com/t/dont-even-know-what-questions-to-ask/18663/9 "2018-08-15T02:55:18Z")