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Permalink Reply by Mark384 on December 30, 2012 at 6:58

I can't tell you anything about the well because I don't know the serial number for it. A lot of the experts that help people at this site are off for the holidays, right now, but maybe they will know something about the well.

In order to determine the amount of mineral acreage owned by you and your siblings, you have to first know the total Amount of Acreage in the Land owned by you and your siblings. You divide that by the number of siblings. That gives you the total acreage that each sibling owns. However, when you lease, the O&G Company will specify in the lease whether you get 1/4 or 1/5 or 1/6 of those royalties.

So lets say that leased for a Fifth (of the Royalties) and the Total Land is 4 Acres. Assuming that you have 4 siblings, that would mean 1 Acre of the Land is yours. Divide that by the 1/5 of the Royalties, and you would own 0.20 % or about 1/5 of a Mineral Acre.

However, when the Oil Company leases you, before the well is ready to pay you, they will send you something called "A Division Order Form" to Verify and fill out and sign. There is a figure on that form referred to as the "Decimal Interest" Basically, they have already figured out the "exact amount of land" in the 640 (Standard) Acre tract of the land
That has ALREADY been divided between you and your siblings with the percenage (1/5) of the royalties owed to YOU accounted for.

In the example I mentioned, your decimal Interest would be 0.0003125 (1/5 of a mineral acre divided by the Well 640 Acre Tract of Land). So if you didn't know the exact amount of Acreage in the land, you could use that figure to calculate it. In my example, just multiply 0.0003124 (Decimal Int.) x 640 (Acres in Well) x 5 (% of your Royalties) and that will give you the One Acre that you own in the Land. And it will be the same for your siblings because they each own 1 Arce of land.

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Permalink Reply by Henry on December 30, 2012 at 7:19

There was a recent report of the "Evans 31-9-13" well, drilled by Chesapeake, with an initial production of 17 mmcf/day. Pretty darn good.

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Permalink Reply by MARIHA R BELTON on December 30, 2012 at 7:21

I DONT UNDERSTAND WHAT DOES 17 MMCF/DAY MEAN?

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Permalink Reply by David on December 30, 2012 at 8:05

If you know the name of the well, look here:

http://sonlite.dnr.state.la.us/sundown/cart_prod/cart_con_sectwnrng1

This lists all the wells in a given section, township and range.

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Permalink Reply by MARIHA R BELTON on December 30, 2012 at 8:32

THE NAME OF THE WELL IS EVANS OR EVANSVILLE.

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Permalink Reply by Mark384 on December 30, 2012 at 8:29

MMCF must be different from MCF. MCF means a Million Cubic Feet of Natural Gas per Square Foot (that the well produces). MMFC must mean either a million or a thousand times more. Our well produced about 8,400 MCFD (Miilions of Cubic Feet per day). So it was definately no slouch!

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Permalink Reply by MARIHA R BELTON on December 30, 2012 at 8:38

THANK YOU, SO 17 mmcf/day IS GOOD.

 

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Permalink Reply by jeff on December 30, 2012 at 9:18

17mmcfd is huge!  You are very lucky.

 

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Permalink Reply by MARIHA R BELTON on December 30, 2012 at 9:22

17016 MCFD

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Permalink Reply by MARIHA R BELTON on December 30, 2012 at 10:27

Estimate how many barrels can be produced daily?

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Permalink Reply by Two Dogs, Pirate on December 30, 2012 at 12:05

It is producing 192 barrels of water a day. Natural gas is measured in cubic feet where oil is measured in barrels. This well #243924 is producing only water and natural gas. 

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Permalink Reply by MARIHA R BELTON on December 30, 2012 at 12:14

SORRY I AM ASKING A LOT OF QUESTIONS IS THIS A GOOD THING WHEN PRODUCING BARRELS OF WATER?

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