Replies to This Discussion

Permalink Reply by GoshDarn on April 3, 2012 at 9:14

Jason:

Yes, there is a market for such an app.  I think many I know would be interested in seeing what you can come up with.  Also, besides private landowners, you might also consider contacting certain government entities, such as the various cities/towns/parishes/counties who manage the mineral rights of their communities -- and see if they'd also be interested. 

Note:  A helpful data model would be a defined tracking of the Henry Hub NG pricing each month (via a charted history over time).  Also, you might would want to make the software interactive so as to generate depletion curves per the dropping of well productions, i.e., that a user could key into the software each month once they received their monthly royalty statement/s.  In other words, those volume data streams on a well/multiple wells . . . and the ever lower, decreasing/dropping royalty payments could be grafted to generate a guesstimate as to what the future months might -- "might" -- be forecast to bring as to royalty income for each individual landowner.  (And yes, you'd need a plug-in calculator -- much like a royalty app calculator -- so as to fit the unique variables of royalty interest, amount of land under lease, historical deduction percentages, production volumes -- all of which vary per location/person.)

Also, seems to me a good approach would be a web-based log-on with a protected password and a monthly fee (with maybe the first month "free" as a promotion).  I know I'd be very interested in a test drive.

Finally, some folks only have one track of land and only deal with one operator, whereas others have numerous tracks of land/mineral rights with many wells and have royalty statements from multiple operators.  Ergo,  designing an app to fit this type of need will be vital so as not to hem in a possible broader market of users who have more extensive holdings.

Lastly, as you have already possibly figured out, advertising on GHS would be a smart idea, too.  (And I'm sure Keith would welcome you with open arms since your app would be so royalty-owner-friendly.)

Looking forward to seeing what you come up with.

Permalink Reply by JHH on April 3, 2012 at 10:49

Yes, good idea.  See My "Land Book" posted by Henry.  all of that plus what you are thinking about.  Downloaded from internet or a CD would be OK.  Some counties in Texas allow individuals to view records and save materials.  downloading that to the software would be kind of nice but might be sort of complicated to design.  jhh

Permalink Reply by Henry on April 3, 2012 at 12:25

I will be happy to be a beta tester.  Oops,  I don't get any royalties!  Guess I wouldn't be much help.

Permalink Reply by reallyoldguy on April 4, 2012 at 5:04

Excellent idea!  Sorry I didnt think of this one myself!  As far as suggestions for helpful features, I think "GoshDarn" has covered most of them.  I think it would be very helpful, for the mineral owner, to have some sort of calculator/instruction on how to break their mineral interest down into a decimal interest.  I realize this sounds trivial to most, however, many mineral owners are scratching their heads when it comes time to sign division orders:  I know I was.

Also, maybe a "glossary", of some sort, containing definitions of commonly used industry terms might be helpful.  Its amazing how many of us(mineral owners) are CLUELESS, to this industry, when we find out we've got mineral interest.

I think it just depends on who you want to market this to.  The very educated/experienced, professional mineral owner, or the "newbies", of sorts.  However, I think you could easily modify the program to incorporate education to help "season" any new mineral owner who needs to aquire some industry knowledge.

Lastly, I think a secured web based program would be my personal preference.

Best of luck to you!

Permalink Reply by Hopeful About Natural Gas on April 4, 2012 at 7:23

Sounds good. I agree about he web based operations. It's easier to expand too. I don't know about the size of the market. Post on other boards for mineral owners and you might get a good general idea.  Other members have already mentioned other ideas that I also think important.  Good luck.

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PS: it seems like, in the long run O&G companies should offer something like this to their mineral owners. It's like banks offering money management software such as Quicken.

Permalink Reply by Skip Peel - Mineral Consultant on April 4, 2012 at 7:43

If your software is low cost, or any cost, you need to get Keith's permission to promote it on GHS.  Site rules only allow for advertisers to promote their products and services.

Permalink Reply by Keith Mauck (Site Publisher) on April 4, 2012 at 17:00

Please post something like this in the blog section. Thanks.