# Revenue statement
**URL:** https://www.mineralrightsforum.com/t/revenue-statement/62564
**Category:** General Mineral Rights Discussion
**Created:** [July 21, 2021, 4:35pm UTC](https://www.mineralrightsforum.com/t/revenue-statement/62564 "2021-07-21T16:35:18Z")
**Posts on this page:** 6
**Page:** 1
### Author:  [@Debra\_Stearns](https://www.mineralrightsforum.com/u/Debra_Stearns)
#### Post date: [July 21, 2021, 4:35pm UTC](https://www.mineralrightsforum.com/t/revenue-statement/62564/1 "2021-07-21T16:35:18Z")
I would appreciate some assistance in understanding my check detail after my interests with Luxe Energy were sold to Colgate Energy. The biggest difference I saw was that Luxe paid oil 1 month behind and gas 2 months behind. Colgate pays oil and gas 2 months behind. Is 2 months behind on both standard? The other difference was in the categories as shown below. I don’t understand how to compare these. Plant Products – Luxe – March – Volume, 292,121 –Price, .77
Natural Gas Liquids – Colgate – April – Volume, 4362 –Price, 24.74
Natural Gas Liquids – Colgate – May – Volume, 4901 – Price, 33.09
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### Author:  [@tracy\_lenz](https://www.mineralrightsforum.com/u/tracy_lenz)
#### Post date: [July 21, 2021, 7:31pm UTC](https://www.mineralrightsforum.com/t/revenue-statement/62564/2 "2021-07-21T19:31:20Z")
Hi Debra,
2 months lag is pretty standard. Gas is usually 2 months since the operator usually sells to a midstream (pipeline) company who gathers all the gas, processes it (which doesn’t happen instantly), and then sends back a statement. Oil can be faster since often it’s a simpler transaction with hardly any processing, but any extra accounting or internal QC can delay accounting making the payment that first month. Both Luxe and Colgate are small companies (well, Luxe is gone now, but it _was_), so it could be as simple as how their accounting group is/was set up (internal, contracted, etc).
Plant Products = Natural Gas Liquids, and we’ll call them both NGLs for short. The main difference between the two is the Luxe statement has NGLs in gallons while the Colgate statement is in barrels. Gallons is more common to see. 1 barrel = 42 gallons, so you can divide the Luxe volume by 42 to get the apples to apples for Colgate.
| | | NGL, gal | NGL, bbls | $/gal | $/bbl |
| --- | --- | --- | --- | --- | --- |
| Luxe | March | 292,121 | 6,955 | $0.77 | $32.34 |
| Colgate | April | 183,204 | 4,362 | $0.59 | $24.74 |
| Colgate | May | 205,842 | 4,901 | $0.79 | $33.09 |
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### Author:  [@TennisDaze](https://www.mineralrightsforum.com/u/TennisDaze)
#### Post date: [July 21, 2021, 7:49pm UTC](https://www.mineralrightsforum.com/t/revenue-statement/62564/3 "2021-07-21T19:49:23Z")
Colgate can pay the 2 months behind on both unless prohibited under terms of your oil and gas lease. Liquids and products are the same. Luxe measured in gallons and Colgate is measuring in barrels. One barrel is 42 gallons. If you divide the Luxe volume of 292,121 gallons by 42, you get 6,955 barrels. The price per unit (per gallon or per barrel) is determined by dividing the gross sales by the volume. Luxe sales is 292,121 X $0.77 = $224,933.17. The price per barrel is $224,933.17 / 6,955 = $32.34 for that month.
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### Author:  [@fjonesiv](https://www.mineralrightsforum.com/u/fjonesiv)
#### Post date: [July 21, 2021, 7:49pm UTC](https://www.mineralrightsforum.com/t/revenue-statement/62564/4 "2021-07-21T19:49:35Z")
I’d suggest simply calling the new Operator and make them spend a bit of time on the phone explaining it. A professional company should do this.
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### Author:  [@Debra\_Stearns](https://www.mineralrightsforum.com/u/Debra_Stearns)
#### Post date: [July 21, 2021, 9:21pm UTC](https://www.mineralrightsforum.com/t/revenue-statement/62564/5 "2021-07-21T21:21:02Z")
Thank you for the explanation.
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### Author:  [@system](https://www.mineralrightsforum.com/u/system)
#### Post date: [October 19, 2021, 4:35pm UTC](https://www.mineralrightsforum.com/t/revenue-statement/62564/6 "2021-10-19T16:35:54Z")
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