Replies to This Discussion

Permalink Reply by adubu on December 22, 2010 at 5:21

Mac Davis--- OK

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Permalink Reply by Mac Davis on December 21, 2010 at 16:26

No other wells for this mineral interest owner, first royalty check ever.   Arrived in the mail unprompted.  However, it was pretty clear who the mineral interest owner was in this case.

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Permalink Reply by PamelaC on December 21, 2010 at 19:15

Mac,

 

Good for you! What is the name of the company if you don't mind my asking? From your mouth to God's ear.

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Permalink Reply by Mac Davis on December 22, 2010 at 12:12

It was Chesapeake.

 

They took their own sweet time (3 months?) before sending anything, but once they sent the DO, they sent the check at the first of the next month. 

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Permalink Reply by keb on December 22, 2010 at 21:18

Mac, was the money what  you expected? were you happy? may i ask, how many acres do  you have?  I've heard so many conflicting stories about the money not being what one would expect, i'm just curious.  Still waiting for ours.

 

keb

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Permalink Reply by Plaser on December 27, 2010 at 7:36

Pam:  DO received by my sis today.

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Permalink Reply by PamelaC on December 27, 2010 at 8:42

Plaser,

 

Yeah!! If my mailman would just come early. I take it your mailman comes in afternoon also?

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Permalink Reply by PamelaC on December 27, 2010 at 14:41

So, I got my DO's today. I really need to send them back tomorrow. The math is throwing me though. Since I do not have lease information - If the  calculations are incorrect am I stuck with those numbers according to Texas.

 

Does this NPRI calculation sound normal?? It comes out to [42/( .125/10)/759.42] , I think- could be wrong

 

[42*[[(1/10)*(1/2)*(4/5)*(1/4)]+[(1/10)*(1/2)*(1/5)*(1/4)]]]/759.42

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Permalink Reply by FXEF on December 28, 2010 at 8:59

Pamela,

This may be of help assuming you have 1/8 royalty. If you have 1/4 royalty just substitue .25 instead of .125 in the formula below.

 

42 acre tract

759.42 acres unit size

1/8 royalty (.125)

==================

42 acre tract

5 people has 1/2 

42 / 2 = 21

21 / 5 =  4.2 acre per person

 

4.2 / 759.42 * .125 = 0.0006913170577546022 or 0.00069132 rounded to 8 digits

====================

42 acre tract

3 people has 1/2

42 / 2 = 21

21 / 3 = 7 acre per person

 

7 / 759.42 * .125 = 0.0011521950962577 or 0.00115220 rounded to 8 digits 

=====================

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Permalink Reply by PamelaC on December 28, 2010 at 9:09

FXEF,

Thank you!

So those #'s look correct? If they aren't and I sign can it be fixed later or am I stuck with those #'s? 

Part 1 of calculation:

I get that the 1/10 is the 4.2 out of 42 acres of the 759.42 for me

I don't get the 1/2 or the 4/5

I get the 1/4 or .125 is the lease percentage

 

Part 2 of calculation:

I get that the 1/10 is the 4.2 out of 42 acres of the 759.42 acres for me

I don't get the 1/2 or the 1/5

I get the 1/4 or .125 is the lease percentage

 

Chris said SM pays 95% and Encana 5% is that why there are 2 sets of #'s in the calculations?

Total interest = .00069132

SM = .00065675

Encana the difference between the 2 = .00003457

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Permalink Reply by FXEF on December 28, 2010 at 9:21

Pamela,

 

If the numbers that I posted match the DO numbers then it's pretty safe to say they are correct. I am not an attorney, so I don't know if changes can be made later.

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