Great O&G website with a royalty calculator.
Geology.com is a great website and even has a royalty calculator. You just answer about 5 questions. A couple are tricky , you need to know the wellhead price for natural gas and its been averaging about $8.65 cf. You also need to know the volume that your well is producing a day. The Haynesville's volume rates have been huge from around 5mmcfe/day to over 15mmcfe/day. The rest are simple to answer , acerage size , lease percentage "25%" + - and the last should be 640 which may be set as default. There may be a link to this website on here somewhere. If you dont find the royalty calculator right away just put that in the sites keyword box and it will come up for you. Jed
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Replies to This Discussion
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Permalink Reply by Jed Clampett on
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There is an endless amount of knowledge on Geology.com. It even has astronomy related items , just about anything you need to know about geology. The geologist was also known as "unemployed" around here from the 70's to now but times are picking up in that field. Im at the bottom of the ladder in civil engineering. Jed
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Permalink Reply by BIGWOOD66 on -
The well head price I have seen is in TCF (per thousand cubic feet) Your figure is accurate but at TCF. EIA Shows figure for 05/2008 at $9.81 per TCF. Heres the site http://tonto.eia.doe.gov/dnav/ng/ng_pri_sum_dcu_nus_m.htm
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Permalink Reply by Bacon on
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Just an FYI, MCF=1 thousand cubic feet (not TCF). "M" is the roman numeral symbol for 1000. "MM" is million.
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Permalink Reply by Bacon on
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It's all good. I just figured out the roman symbol part this morning thanks to your post!
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Yeah , Thats like on a movie where it shows something like MCMLIV = 1954. Thanks , Jed
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Thats what I saw on a website that I cant find now. It showed a natural gas stove burner with todays well head price at $9.36. That was about a week ago. I see an figure of $8.50 + - in The Times ? Thanks , Jed
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Permalink Reply by BIGWOOD66 on
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CF= 1 (Cubic Feet)
CCF= 100 C-denote centum
MCF= 1000 M-denotes mil or thousand =TCF (thousand cf)
MMCF= 1,000,000 = 28,000cf3
Anyway I just wanted to more define my last reply. $8.01 per MCF or thousand cubic feet would be a more accurate average for the past six months. We get so much inaccurate info, I just wanted to be clear.. Just tryn' to be helpful.....
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What ever happened to the US going metric thing. Back in the 60's they pounded that in our heads at school. Maybe they knew that by the time we got old enough to buy a car most would be buying Toyotas or Hondas. Its a great measuring system but it never got to where it was expected to. Jed
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