Hoping someone could help me out determining net mineral acres: Shaw 1-12H, Grady County, OK Decimal: 0.0117188. I believe we are looking at 4 NMA. I don’t know the spacing unit. I know the law, but not the math. Any help would be appreciated.
the equation is net mineral acres/spacing acres x royalty x % perforations in your section. The Spacing is usually 640 acres for a horizontal well. You have to know the royalty. Took a guess and it would be 4/640 x 3/16ths x 1.0= 0.001171875
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That is about what I expected. Thanks.
Yep 4 NMA at a 3/16ths royalty 640 acre unit Order 609304, Woodford