EQT Remittance Statement

[Heir1]

I am trying to figure out how the Owner Revenue is calculated on EQT Remittance Statements. The following figures are from my first check. Can anyone tell me which of these figures are used and what the formula is to calculate the Owner Revenue? I receive royalty checks from other companies and it is a simple matter of multiplying the Owner/Decimal Interest x Sales Volume x Sales Price, but that doesn’t work here, even when allowing for discrepancies depending on how far you go out to the right of the decimal point.

The Owner Volume (OV) is calculated by Decimal Interest (DI) x Sales Volume (SV).

The Sales Revenue (SR) is calculated by Net Price (NP) x Sales Volume (SV).

When I use NP x OV, my Owner Revenue (OR) equals $306.23, not $361.03.

Net Price (NP): $2.134

Decimal Interest (DI): 0.00019431

Sales Volume (SV): 738,485.89

Owner Volume (OV): 143.50

Sales Revenue (SR): $1,576,438.80

Owner Revenue (OR): $361.03

[Nancy_Mosley]

Your lease might be a kind of gross revenue instead of net. You are giving the net price; see if there is another price listed. This would be a good question for the company.

[DDTQuilts]

That does seem strange.

There is a possibility that the unit you are in has a cross-unit factor that will add an amount from the cross unit to your total, but EQT usually lists these separately on your check showing more than one interest.

Another possibility is that there is a “working interest” owner in the unit that is affecting your payout with the possibility of a “bonus” or “enhanced” decimal interest for you. I’ve had that happen once with another company.

The other possibility is that there was a calculation error—but not likely with the computer doing the math.