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Permalink Reply by NA on April 30, 2009 at 4:33

I would think RI stands for Revenue Interest.......acreage you own in unit/size of unit (X) royalty on lease. (I assume you are a leased mineral owner)

As far as forming an LLC get a good CPA or tax attorney to give you advise on that. I don't understand the 582 acre tract question.

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Oil & Gas ProPermalink Reply by The_Baron on April 30, 2009 at 4:47

RI is Royalty interest, but your formula is good.

There could be many tax benifits to forming an LLC, but NA is right, you need to talk to a cpa and attourney.

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