Can someone help me figure this out. total acres 1362.40, my acres 12.18, my interest 0.06500. Wells are producing 35,400 a month. This is a pooled.
Kim:
What is the price/bbl. and what is the size of the spacing unit?
The formula: Your Acres divided by spacing unit times Your Royalty Percentage times price per barrel times barrels sold.
Example: 12.16/1280= .0095 X.15= .001425 X$75.00= .106875 X34,500= $3687.19 (Gross)
look up Royalty calculator-Penn state