Could someone explain how a company derives the owner interest in an allocated well in Texas on a statement please?
What I have figured so far is correct. Unsure of the final calculation or what am I missing to find what I am looking for? I want to verify all is correct on new Division Orders. Using previous info below for example to understand calculations. Thanks for any help in this. mk
This is the figure I am trying to understand how they derived? Owner interest on statement is " 0.00068478 "
What I know: NRI in 114.00 acres @100% = 0.01005747 SW/4, 114 acres, Section # NRI in 114.00 acres @25% share = 0.01005747 X .25 = 0.00251437.
I believe that makes me have 2.293 NRA. ?