Royalty Calculator for already producing wells. Excellent tool.

Excellent tool.  Have fun!

http://www.wellrevohio.com/RoyaltyCalculator.aspx

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Permalink Reply by Frank Walker on March 2, 2015 at 10:42am

OP did not bother to mention, too much trouble I guess:

Looks to me like this calculator is worthless, unless you are in Ohio

Permalink Reply by dr j on March 2, 2015 at 11:37am

Sorry Frank, it is for Ohio only. Still great info as it's somewhat "real time" based on documented production, not pie in the sky.  Hopefully there are companies developing the same for other states.  Was invented as a tool to assist auditors, school districts etc in calculating royalty income. 

Permalink Reply by Frank Walker on March 3, 2015 at 12:35am

"Sorry Frank, it is for Ohio only."

Fine.  So put "Ohio only" in your TITLE.  That way hundreds of other GMS participants from PA and WV and elsewhere do not waste their time clicking on something that is not for them.

It takes you, what, ten seconds?  That's just common courtesy . . . . or what used to be common courtesy.  

Permalink Reply by dr j on March 2, 2015 at 4:59pm

Anne

You are probably using it incorrectly as you do not need to add the unit acreage.  I haven't tried it on my iphone or ipad though.   

This calculator is for already producing wells.   If you search the well and click on the well name, the calculator will add the unit acreage for that well.   It's not a variable you can alter as it's a constant for that well.  You can alter the number of acres in the unit ( ie if the unit is 150 acres and you would like to see the royalty for 40 acres of the 150).  You then add the gross royalty percentage and choose the year/quarter.   Keep in mind last quarter 2014 reports are not yet available so 2014 results will not include the last quarter.   

Permalink Reply by dr j on March 2, 2015 at 5:17pm

Does it bring up the name of the well for you? 

Permalink Reply by evan on March 3, 2015 at 12:15am

I tried and its not working properly.  It won't bring up any Eclipse wells but it will CHK and REX wells. It wouldn't let me add something else also , can't remember what line it was. Tried on iPad and computer. 

Permalink Reply by dr j on March 3, 2015 at 2:03am

You shouldn't need to add anything.  The only variables are acreage in the unit (not total acres, that number is static for each well obviously.)  royalty percentage and dates.  

It has worked for me on 2 different computers and my kindle.  

Make sure you have the names of the Eclipse wells in a proper format.

Permalink Reply by dr j on March 3, 2015 at 2:08am

Just tried an Eclipse well.   Monroe County Shroyer  well. Worked perfectly.

Permalink Reply by Philip Brutz on March 3, 2015 at 2:29am

It works on my Windows computer.  Great tool, thank you.

Permalink Reply by mlb on March 4, 2015 at 4:53am

Try Penn States royalty calculator app and decline curves...it is not specific for UD, Utica etc...it is 20 bucks if I recall for one month but you can pick a county...and eventually use it for your own well.  It is pretty good and will likely get better.

Permalink Reply by The Hiker on March 3, 2015 at 3:06am

Fun tool.  Not up to date with all units listed on Q4 2014 ODNR report though.  I'd like to see what decline rate the author is using to estimate future royalties (something generic?).  As an example of the (local) variation for this component, some wells around me are declining to 37% of their first quarter's production after one year, some are at 19%.  Also, the % NGL and oil component will severely affect the payout, so what % is the author using for these?  But, all in all, a fun tool.  Just take it with a grain of salt.

Permalink Reply by John on March 3, 2015 at 9:46am

mine does not work. When pull down which well I am not able to click on the "year" tab. any suggestions?

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