Test Questions Examples

Can you answer these questions?

 If you take our class, you will know the answers

Plat the following:

NE/4 NW/4, SE/4, NE/4 NE/4 SW/4

How many acres are in each description? (Hint – there are three descriptions in the above example)

You are involved in due diligence for your company.   Which of the following would you use to verify the company’s net working interest.

____1) Joint Interest Bill

____2) Oil check detail

____3) gas check detail
The term 8/8ths means….

___1      eight owners in the unit

___2      the production is multiplied 8 times

___3      100%

The term “burdens” describes

___1      The cost to drill the well

___2      Royalty and override owners cost on the lease

 

Do you understand formulas in opinions and what the numbers represent?

Viewing this example, give the gross working interest for this owner:

120/640 x 13/16

less 120/640 x 1.25%

plus 40/640 x 7/8 less

20/640 x 6.25%

Jesenda Lynne Burns

Sherry,

I would like to take this opportunity to thank you for the conference call on Friday!  We just bought some Oklahoma properties and although I knew about the Senate Bill 168 and the PPI, I had never worked on this before.  The information you gave us will be invaluable.

As you know, I sent 3 people from my department to attend your seminar in Fort Worth on September 7th & 8th.  They all said it was the best seminar they had been to.  Please let me know when you will be in Houston – I will send the rest of my department!

Thank you for your contribution to our industry.  It means so much that you are willing to share your information with all of us – so we all get smarter!

Thanks again Sherry!

Jesenda Lynne Burns
Division Order Manager – Western Division
EnerVest, Ltd.

James E. Fabre

Houston workshop, March 19th & 20th, 2012

Ms. Sherry Robinson & Ms. Rhonda Stacy,

I wanted to take the time today to express my appreciation and respect I have for you two and your Division Order Beginnings class.  I have been to several other classes like this one and your course was, by far, the best one yet!!

I wanted to let you know that the material covered in class was explained very clearly and was easy to understand and follow… mainly because of the flow from a 5th grade level to much more complicated scenarios.  I have noticed, in the past, if you ease into something, that has the potential of being very complicated or hard, one is less and intimidated.  Which I find in life is a huge barrier of a person’s overall understands of any situation.

I valued the hands on calculations mainly because this is how I, and most others, learn best!!  Another great aspect of the class was the strategic/periodic lectures that gave that calculation portion of the brain a little rest.  I truly appreciate how easily it was to access you two if any questions were to come up.  I also respected how you walked through the class and made sure that everyone was working their calculations correctly and made constructive corrections when you saw that it needed.  Another huge thing that I noticed is that no matter how many questions were asked, to either one of you, ya’ll never look irritated, frustrated or had any outward inclination of negative energy.

I always appreciate tangible sources of knowledge and I have a bunch of these types of workbooks in my office.  However, the one I acquired from your class is, by far, better than the others that I have.  I believe anyone (even those that didn’t attend the class) can open it and understand the insides and learn.  This book will be a great source of knowledge and I will refer back to it for any questions that I may have in the future… because even though I have two mentors, I still like to get to a correct answer myself.

I appreciated the way you explained how to effectively read and analyze a Drilling Opinion and a Division Order Title Opinion.  I hate to say it, but I was feeling like I needed a lesson, or two, on how to locate and calculate the different interests in a given property.  I honestly have to say that after the Division Order Beginnings 2 day class I feel more comfortable in progressing.  I am actually looking forward in working another property, so that I can implement the information, techniques and calculations that I learned in class.

I look forward in receiving the email from you with the spreadsheets covered in class.

Lastly, I wanted to say those two basic words… “THANK YOU!!”

Respectfully,

James E Fabre

Anadarko Petroleum Corporation