I am struggling with terminology. Can someone help or point me to a post that walks a new mineral owner through some basics?
What is the correct term for the agreed upon percentage in a lease? Royalty interest? Royalty percentage? Decimal interest?
What is the correct term for the amount of minerals owned in a section?
What is the correct term for the calculated amount paid to the mineral owner? This is the number that often appears on the division order, right? On DOs, I’ve seen the following terms: Royalty Interest, Division of Interest, Type of Interest/Decimal Owned, Revenue Decimal.