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
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%