Good Morning!
We have finally figured out the legal wrangling of our mineral rights and the horizontal rig is now producing about 85 barrels per day of West Texas Sour. The rig is in the John H Gibson Block D Section .We have a 25% royalty and I’m trying to gain better understanding of what to expect from a monetary aspect moving forward. Can anyone help with how to calculate the cost of production to give myself a better idea of what our royalty will look like? @ $56/barrel how much of that do you lose to production? Thank you in advance!