We've been approached about some of our working interest in Ward County. Can someone please explain what a .3532732% interest or a .5652371 interest in certain leases containing 160 acres to all depths below 7500 feet is as it relates to net acreage? Someone has made an offer to us with a certain price per acre reduced by the percentage of working interest held; delivering a 75% NRI, retaining an overriding royalty interest being the positive difference between existing burdens and 25%.
I'm not as familiar with working interest and just want some clarification on some of this. Any help would be greatly appreciated.