Is there a way to determine this using SONRIS reports or tools?
Royalty check stubs indicate monthly costs and sale proceeds, but can the total well cost be found if the operator is not anxious to divulge?
Note that the Tax relief payout number and the number that represents payout for either an escalating royalty or for ulmo payments can be different calculations. Use the Tax Relief number as a good starting point though.
Les is correct that working interest owners are really the ones with the sufficient info on this subject. If you are a regular owner, you will probably get a "payout statement" from the operator after a request - that has about as much detail as my lawn guy's invoice. It won't itemize what they are loading in to the point that you could really audit whether the costs are attributable to your well or not. But that is not to say these one page payouts are intentionally deceptive - just conveniently vague.
A good question for the group is whether they believe a one page non-itemized payout statment satisfies La R.S. 30:103.1 where the operator has to report to the ULMO. I would think a working interest style report would be found too burdensome on the operator (probably to burdensome on the owner as well), but is the one page statement sufficient?
386 members
27 members
455 members
440 members
400 members
244 members
149 members
358 members
63 members
119 members
© 2024 Created by Keith Mauck (Site Publisher). Powered by
h2 | h2 | h2 |
---|---|---|
AboutAs exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More |
Links |
Copyright © 2017 GoHaynesvilleShale.com