landowner

Following this well: INDIGO MINERALS 31 H

Hey Shalers,
I've been following this well for a while: Serial #239623 (INDIGO MINERALS 31 H) and the last posting on Sonris said 'well potentialed' - that was on September 21. I read elsewhere on this blog that 'well potentialed' meant the drilling company had 60 days to post results. Is that right? Seems 60 days has passed. Any ideas anyone?
JnP

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Oil & Gas ProPermalink Reply by Les Bamburg on November 23, 2009 at 16:04
JNP, the DNR posts the results on Sonris rather than the operator. So the delay may be more a function of manpower than anything else.

landownerPermalink Reply by JeffNParis on November 23, 2009 at 16:21
Thanks Les. That makes sense!

landownerPermalink Reply by JeffNParis on December 19, 2009 at 9:16
We received a division order for Indigo Minerals 31 but were surprised because we didn't know our land crossed into the section north of us. The DO shows our interest in decimal points and I can't remember how to convert that to represent how much acreage we have in this well. Can someone remind me of that formula? I know it's on the HS blog but can't find it using the search tool.
Thanks!
JnP

Oil & Gas ProPermalink Reply by Les Bamburg on December 19, 2009 at 9:48
JNP, the unit application listed the unit as having ~ 540 acres. So your tract participation percentage times 540 should equal your acreage. Also the tract participation percentage times your royalty rate should be your revenue percentage in the producton.

landownerPermalink Reply by JeffNParis on December 19, 2009 at 9:56
Les,
Thanks. I'm still a bit confused as there are three numbers:
BPO Net Acreage
BPO Lse/NRI/RI
and BPO Unit Int.

Which number should I use to figure out our percentage of acreage in the 540?

Thanks,
Jeff

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