In order to use this calculator you will need several bits of information:
- The number of net mineral acres owned. This is not necessarily reflected in a deed or lease. Often it may say something like, “10 acres more or less”. Most individuals own only a fractional interest. The problem for most owners is that they don’t have a mineral interest title opinion and are relying on information from the company.
- The number of acres in a the spacing unit. Spacing unit treats oil or gas produced thereunder as shared equally among the owners with an interest therein. This can range from 10 to 1280.
- What royalty interest do you receive? This is in the lease or the pooling order. These are typically 1/8, 3/16, 1/5, or 1/4.
- If this is a horizontal well in a multi-spacing unit, you will need the percentage of perforations in your section. Information on this may be found at the OCC Website. You would review the survey for that information.