Hi I need a little help understanding my division order… What is interest in total production 0.00000147 … Royalty interest there is 769.39 acres.. I’m in 78.69 …20% and 1/5 so what could be the estimate can anyone help … 91,421 oil production and 68,702 casinghead..
Wootton Unit API # 42-177-32956 Lease 17051 EOG Resources
Dear Ms. Farrell,
I’ve written an oil and gas production economics program and took a look at your well.
If the decimal interest is correct, you are making about $1.00 per month or less on this well. For production months from July 2013 through September 2014, your gross share of production is estimated to be $14.50.
Out of that comes taxes and any costs that you are responsible. Severance tax on oil is 4.6% and on gas 7.5%.
The gas tax number can and should go down depending on what relief EOG seeks on tight gas production.
It appears that a year from now, the production will stabilize at about 20 BOPD.
Best, Buddy Cotten