My well is going to be fractured for a second time and is currently estimated at 30bbl oil and 2 mil.mcf gas. I haven’t received a div. order yet and don’t expect one for a couple of mo. I was trying to guesstimate a value for possible royalties. Mineral rights are between 3 primaries. I’m in one of the primaries and this primary is divided into 4 secondaries. We have a 20% lease interest. The plat shows the well in a 40 acre unit with no pooling. The lease was for 600 acres.
Dear Mr. Garcia,
Based on what I can surmise from your question, I will take a stab at an answer:
1/3x1/4x.2= 1 2/3% in the well.
Assuming $5.00 gas and $70.00 oil and a 30 day month, that would give your interest a gross income of about $6K per month, unpooled.
Dear Mr. Cotton,
Thanks for your time and effort in determining my royalties. I now have a value to consider until I get the actual breakdown.
Michael
Buddy Cotten said:
Dear Mr. Garcia,
Based on what I can surmise from your question, I will take a stab at an answer:
1/3x1/4x.2= 1 2/3% in the well.
Assuming $5.00 gas and $70.00 oil and a 30 day month, that would give your interest a gross income of about $6K per month, unpooled.
Buddy Cotten
www.cottenoilproperties.com