Oil and Gas Calculations – Part 1
Plat a legal description, discuss survey systems in U. S., History of Pooling and Spacing. Review the royalty history covering the Blanchard Decision (still used in Arkansas) and Senate Bill 168 in Oklahoma. Discuss the different producing states and the calculation of the royalty. Read calculations in a title opinion, discuss burden relationships and calculate royalty, overrides and net working interest. Understand working interest leasehold net and net revenue in the well. Chain Title to understand the flow of ownership. Calculate PPI’s in Oklahoma.
Oil and Gas Calculations – Part 2
The student needs to have taken Part 1, or, understand how to calculate net working interests and the burden relationship. Cover non-ops and well set ups for your company’s 8/8ths. Farm-outs and reservation scenarios. Calculate back in after payout, non-consent working interest and the formula. Problem solving using real life examples, discuss different attorney styles and how to understand their calculations.. Discuss gas balancing and volumes. Cover spreadsheet building in excel with files emailed after class. Work tips to assist you in your day to day work.
Appalachia (if requested):
- Flat Rate Royalty
- Guaranteed Minimum Royalty Act
- Tract Participation Percentage (TP %)
- Lease Well/Unit Well
- Pennsylvania Dunham Rule