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Permalink Reply by The_Baron on January 21, 2010 at 9:43

Most oil wells have tanks onsite. The tanks may be shared by more than on well, but generally are only for a one lease or unit.


OPENING STK is the volume of the tank at the begining of the month.
OIL PROD(BBL) is the oil produced for the month. Can include condensate.
GAS PROD(MCF) is the Gas produced, includes casinghead gas
DISPOSITION is volume sold or removed from the tank
CLOSING STK is volume still in tank at end of the month.

The number that matters is the Oil PROD, this is the actual production, some wells, especially older wells that only produce a small amount may build up a stock in the tanks and only sell the oil every few months, others will take many loads per month.

You will not see royalties untill that oil is sold. Many Oil Buyers are reluctant to pick up small loads (unless there are many small loads in a area to make the trip worthwhile).

The numbers should balance, Beginning stock + Oil Prod - Oil Sold = Closing Stock

Gas will be sold as it is produced

Permalink Reply by Henry on January 21, 2010 at 12:54

Baron, thanks so much. It took 6 weeks, but I finally got an answer. I appreciate it.

Permalink Reply by Skip Peel - Mineral Consultant on January 21, 2010 at 13:04

Henry, patience is an important element of managing your mineral estate. Thanks, Baron.

Permalink Reply by Henry on January 22, 2010 at 2:58

Skip,
You are soooooo right.

Permalink Reply by Linda Blunt on August 25, 2010 at 15:24

Baron,
Can you tell me what code 9 means in the Scout Information?

Thank,

Linda

Permalink Reply by Skip Peel - Mineral Consultant on August 25, 2010 at 15:50

Active - Injection