Thanks Bill: Just what I was looking for.
William Murrell said:
Don: Here are a few links you might find helpful.
Gives pricing for crude oil…including spot prices for WY…just click on a date
http://www.paalp.com/Customer-Center/Crude-Oil-Price-Bulletins-1363.html
Presentation about WY severance and county property tax (Ad valorem)
http://legisweb.state.wy.us/budget/wyosevtaxes.pdf
Wyoming Oil and Gas Conservation Commission
Your 170 acres could be pooled into a larger unit(s). My acreage in Texas was pooled into two different oil units. Oil units where my minerals are located are running between 500 and 1500 acres. To figure your decimal interest in a unit…Take your acreage in a unit divided by the total acreage in the unit, multiplied by your royalty percentage. For example: 170 / 500 (total acres in the unit) x 3/16 royalty rate = 0.06375 decimal interest in this hypothetical unit. If this unit produced 10,000 barrels of oil at $70/bbl…your share of the revenue would be $44,625 ($700,000 x 0.06375) minus various taxes and deductions from oil/gas companies for things like transportation and processing the commodity. The deductions portion of this would greatly depend on your lease language and how it has been interpreted by the courts in Wyoming. After production began on my unit…it took 6 months before I saw anything. Hope this helps…Bill