What determines how many wells you can draw royalties from?
Is a section 640 acres 1 square mile?
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Permalink Reply by Bird on
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Yes, a section is one square mile. Also a township is six square miles, usually. The unit set up for drilling is usually a section of 640 acres and all mineral right owners should draw royalties from production. All is negotiable, some are signing for 25%. I like a clause of a bump up to 30% after the cost of the well is recovered.
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Permalink Reply by texasshale on
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The number of wells is determined by how your lease is pooled with other acreage. It is limited by the practical aspect of the pooling.
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