Has anyone used the oil and gas calculator? If you have, let me know how accurate it is. I don’t know if I put in the right percentage of mineral ownership within my property.
Thank you, Marcella
Marcela, I don’t think it will be very accurate. It doesn’t allow for deductions and taxes. If you are sure you put your acres, the spacing size, monthly production and the royalty in correctly, I think you’d be safe if you counted on about 70% of your estimate will be yours to keep after taxes and deductions. I’m not counting on more than that. Be wary also of the steep decline in production. Very likely your checks will start getting smaller on a monthly basis unless the price of oil goes up or they drill and get production from another well in your spacing. I hope you have a good well.
r w kennedy said:
Marcela, I don’t think it will be very accurate. It doesn’t allow for deductions and taxes. If you are sure you put your acres, the spacing size, monthly production and the royalty in correctly, I think you’d be safe if you counted on about 70% of your estimate will be yours to keep after taxes and deductions. I’m not counting on more than that. Be wary also of the steep decline in production. Very likely your checks will start getting smaller on a monthly basis unless the price of oil goes up or they drill and get production from another well in your spacing. I hope you have a good well.
R W Kennedy, I did put in my acres-spacing size, monthly production and royalty. I am very thankful for your reply. Gives me some idea. I have two wells in Dunn County, North Dakota, and four more coming. Two on confidential list. I am excited. Marcela
Marcela, we have a lot in common. I am under, as they say, 6 wells in Dunn County. 4 wells in Township 149 Range 93 Section 24, two of which have just gone into production, plus 2 more that have just been drilled in Township 148 Range 93 Section 2. There are a lot of really good wells in Dunn County.
Joel, I agree completely on the levels of complexity. Too many taxes and I don’t even have a home state income tax. Production, severance, North Dakota state income, federal income, 15% depletion on the plus side. Possible deductions for production charges from your gross. I should also mention that we are not going to get NYMEX price for the oil either. Thank you Joel for reminding me, I am so going to need the help of a tax professional.
R.W. and Joel, Thanks for the unwanted but necessary bursting of my bubble!
R W Kennedy, My six wells are in Dunn County and McKenzie County, North Dakota, Township 148 North Range 96 West. Sections 1-12-13-24. Two are producing so far. I will not get much of a royalty check. I signed for 3/16% royalty. I share with many owners. But it’s still something. Happy New Year Marcella
R W Kennedy, Yes we do have a lot in common. Two producing wells are in Dunn County, Sections 1-12-13-23. Four more in Dunn County, not off confidential list yet. Also have some in McKenzie County. I am a small owner, have to share with about 500 owners. So I will see. Should find out next couple of weeks. Thanks Marcella
r w kennedy said:
Marcela, we have a lot in common. I am under, as they say, 6 wells in Dunn County. 4 wells in Township 149 Range 93 Section 24 two of which have just gone into production plus 2 more that have just been drilled in Township 148 Range 93 Section 2. There are a lot of really good wells in Dunn County.
Hello; I am wondering if someone can contact me that share in Dunn County 148N96W Sections 1-12-13-24. Buffalo Elk Creek 19667. Have you received a check? I have been off confidential list since July and Aug. 2011. Received division order, Jan. 4th 2012. Would appreciate Marcella
Hello; I signed with Marathon Oil, sure do take their time in issuing a check. Been about seven months on oil wells Buffalo & Elk Creek Sections 1-12-13-24 in Dunn County 148N96W off confidential list. There are more mineral owners in these wells. Has anyone had the same experience? Thanks Marcella
Hi Marcella! If you have clear title [probates done] I think you have reached the point at which you need to make polite inquiry of the operator as to the reason you have not been paid. I recently made such calls myself and I was directed to the appropriate person and I led them on the phone through the chain of title, I presume they were on the NDRIN recorders network. Who knows, it may have been the first time they had considered my interest/ownership/title as it pertained to paying. Long story short, I had to contact the operator 3 times explaining to them that I have clean title and that I would expect interest. My payment was popped in the mail a day or so before the operator would have started to owe me interest. Marcella, if your title is clean, give the operator a call and find out why you haven’t been paid. Remember that the confidential period has little to do with payment, the operator has 150 days after first sales to make payment. Congratulations on some good solid wells [my opinion]. Robert
Hello, I am new and have inherited royalties in Section 2 and 11 of Township 148 North Range 96 West. Please offer contacts and first steps. I see the following activity near our area… Lost Bridge Field, Tuckerman 11x-11, XTO ENERGY INC., Dunn County, North Dakota, 148N-96W-11 | ESER Thank you, Jim Lancaster Sugar Land, TX
R W Kennedy, Yes we do have a lot in common. Two producing wells are in Dunn County, Sections 1, 12, 13, 23. Four more in Dunn County, not off confidential list yet. Also have some in McKenzie County. I am a small owner, have to share with about 500 owners. So I will see. Should find out next couple of weeks. Thanks, Marcella
Marcela, we have a lot in common. I am under, as they say, 6 wells in Dunn County. 4 wells in Township 149 Range 93 Section 24 two of which have just gone into production plus 2 more that have just been drilled in Township 148 Range 93 Section 2. There are a lot of really good wells in Dunn County.
Jim, you might want to go to the top of this page under groups, county groups and join the Dunn County, North Dakota group.
Thank you… best regards.
Jim, welcome. Do not be in any hurry to lease if you didn’t inherit leased mineral acres. I also suggest that you look at your properties on the NDIC O&G Division site using the GIS server map. Eser.org is okay if you are looking for history, but be aware it is history, possibly 1-1/2 years out of date.
Let’s start with Township 148 Range 96 Section 11. There are two Tuckerman wells now, the 11X-11 [143,614 barrels oil as of December, with 5,676 barrels in Dec.] and the Tuckerman 11X-XB with 59,735 barrels oil in 5 months ending in December, with 8,765 barrels in Dec, both are good + wells. Looks like you picked up a good well that Eser didn’t know about yet.
Township 148 Range 96 Section 2 has wellbores that were actually drilled from Section 4, the wellbores draining your acres make them your wells regardless of where the wellhead is.
Starting with the older well Jorgenson 1-4H producing since 7-2008 has produced 92,756 barrels through January 2013 and only 300 barrels in Jan. I would consider this an early well and production methods were not as good back then, doesn’t necessarily mean the acres aren’t as good as Section 11. The second well, Jorgenson 43X-4 is newer producing from 9-2009 through December 2012 [the last month I have production #'s for] 186,044 barrels of oil, 3,622 in Dec.
Jim, I hope this helps. If you are unleased I hope you don’t get in any hurry and check out all your options.
Hello, I am new and have inherited royalties in Section 2 and 11 of Township 148 North Range 96 West. Please offer contacts and first steps. I see the following activity near our area… Lost Bridge Field, Tuckerman 11x-11, XTO ENERGY INC., Dunn County, North Dakota, 148N-96W-11 | ESER Thank you, Jim Lancaster Sugar Land, TX
R W Kennedy, Yes we do have a lot in common. Two producing wells are in Dunn County, Sections 1, 12, 13, 23. Four more in Dunn County, not off confidential list yet. Also have some in McKenzie County. I am a small owner, have to share with about 500 owners. So I will see. Should find out next couple of weeks. Thanks, Marcella
Marcela, we have a lot in common. I am under, as they say, 6 wells in Dunn County. 4 wells in Township 149 Range 93 Section 24 two of which have just gone into production plus 2 more that have just been drilled in Township 148 Range 93 Section 2. There are a lot of really good wells in Dunn County.
Thank you, Our family has had these rights for decades and nothing has been done with them. It’s described as “one percent of 8/8ths overriding royalty interest in South Half (1/2) of the South Half (S/2) of Section 2, and North Half (N/2) of Southwest Quarter (SW/4) of Section 11, Township 148 North, Range 96 West, 5th P.M., Dunn County, North Dakota, containing 240 acres”. This was in the probated will in 1980 when there was no production. Thoughts? Best Regards, Jim
Jim, welcome. Do not be in any hurry to lease if you didn’t inherit leased mineral acres. I also suggest that you look at your properties on the NDIC O&G Division site using the GIS server map. Eser.org is okay if you are looking for history, but be aware it is history, possibly 1-1/2 years out of date.
Let’s start with Township 148 Range 96 Section 11. There are two Tuckerman wells now, the 11X-11 [143,614 barrels oil as of December, with 5,676 barrels in Dec.] and the Tuckerman 11X-XB with 59,735 barrels oil in 5 months ending in December, with 8,765 barrels in Dec, both are good + wells. Looks like you picked up a good well that Eser didn’t know about yet.
Township 148 Range 96 Section 2 has wellbores that were actually drilled from Section 4, the wellbores draining your acres make them your wells regardless of where the wellhead is.
Starting with the older well Jorgenson 1-4H producing since 7-2008 has produced 92,756 barrels through January 2013 and only 300 barrels in Jan. I would consider this an early well and production methods were not as good back then, doesn’t necessarily mean the acres aren’t as good as Section 11. The second well, Jorgenson 43X-4 is newer producing from 9-2009 through December 2012 [the last month I have production #'s for] 186,044 barrels of oil, 3,622 in Dec.
Jim, I hope this helps. If you are unleased I hope you don’t get in any hurry and check out all your options.
Hello, I am new and have inherited royalties in Section 2 and 11 of Township 148 North Range 96 West. Please offer contacts and first steps. I see the following activity near our area… Lost Bridge Field, Tuckerman 11x-11, XTO ENERGY INC., Dunn County, North Dakota, 148N-96W-11 | ESER Thank you, Jim Lancaster Sugar Land, TX
R W Kennedy, Yes we do have a lot in common. Two producing wells are in Dunn County, Sections 1, 12, 13, 23. Four more in Dunn County, not off confidential list yet. Also have some in McKenzie County. I am a small owner, have to share with about 500 owners. So I will see. Should find out next couple of weeks. Thanks, Marcella
Marcela, we have a lot in common. I am under, as they say, 6 wells in Dunn County. 4 wells in Township 149 Range 93 Section 24 two of which have just gone into production plus 2 more that have just been drilled in Township 148 Range 93 Section 2. There are a lot of really good wells in Dunn County.
Jim, I would direct the bulk of my study to the ramifications of having an ORRI. In your place, I would pay for the time of a trusted professional. 1% royalty on production of 240 acres could be a nice chunk of change. I would want to find out if I could get paid without ratifying a lease, for that you are going to need a professional with your best interest at heart. I would recommend you seek and pay for the advice of an experienced mineral manager.
Your time and advice is greatly appreciated. I hope to return the favor soon. Best regards, Jim
r w kennedy said:
Jim, I would direct the bulk of my study to the ramifications of having an ORRI. In your place, I would pay for the time of a trusted professional. 1% royalty on production of 240 acres could be a nice chunk of change. I would want to find out if I could get paid without ratifying a lease, for that you are going to need a professional with your best interest at heart. I would recommend you seek and pay for the advice of an experienced mineral manager.
Thank you Jim. Let me know what you find out. I haven’t invested a great deal of time on ORRI because I don’t have any, although I may have a few carved out of my mineral interests. Personally I would want the person with the ORRI to get the maximum benefit because if they didn’t, the difference would not go to me but to the operator.