I have 33 acres in McKenzie County, North Dakota. My father left these minerals to me when he passed away. I have not received royalties yet because we had to file a lawsuit to discover all of the heirs. My question is, do we have a way of telling how much I will be receiving monthly? I know that the well is producing; I just don’t know when I will receive my check. I also would like to know if they will have to pay me interest because I still have not received payment. If there is anyone who has the answer to these questions that would be great. Thanks Darrell Moye
Mr. Moye, you probably won’t, almost assuredly won’t be collect interest because your title isn’t marketable with a lawsuit involving heirs. Until you know how many net acres you will have, it will be hard to make any kind of estimate how much you have coming. You could divide the production by the acres in the spacing to figure barrels per acre, guess at how many net acres you have and multiply by barrels per acre, then multiply by royalty percentage, deduct about 15% to 20% for production and severance taxes and ND income tax and/or post production costs and I think whatever you have left over would be yours to keep, if your federal tax bracket isn’t too high. Or just plug numbers into one of the online royalty calculators and figure to keep 50% to 60% for a rough estimate.
I have rights in McKenzie County Township 150 Range 96 Section 24. I’m curious if anyone can give me information on activity or seismic surveys in this Section.