Production unit

Another question. New to this.. Stat oil Just startinga well close to us and I'm worried that we're not in the production unit. It's like in our neighbors field. Not sure how feet away. Just very very close. It's the company we signed up with 5 years ago. I asked them if we were in the production unit and they said 99 percent sure. Does that mean we should be getting something in the mail and also I'm concerned there going to come under and drain my gas and still and not put me in the production unit.

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Permalink Reply by Doug Duffield on March 3, 2014 at 6:32am

Ok, so who is doing the drilling CHK?

Permalink Reply by DONNA M SELLERS on March 3, 2014 at 11:09am

yes CHK IS DOING THE DRILLING

Permalink Reply by old trapper on March 3, 2014 at 11:50am

Statoil has a well pad on long ridge rd    ohio township.

Permalink Reply by Doug Duffield on March 3, 2014 at 1:54pm

Interesting

Permalink Reply by DONNA M SELLERS on March 3, 2014 at 6:04am

18%

Permalink Reply by DONNA M SELLERS on March 3, 2014 at 6:04am

18%

Permalink Reply by Kevin on March 3, 2014 at 6:53am

 16.666667 divided by 401.616 +/ = .041499011 times  .18 = .0074698206. This is your decimal interest. 

your acreage / total acreage in unit x royalty percentage

Permalink Reply by DONNA M SELLERS on March 3, 2014 at 7:19am

THANK YOU

Permalink Reply by evan on March 3, 2014 at 8:52am
Sorry if that's wrong I didn't use the right royalty percentage. So a twenty percent percentage would make that right.
Permalink Reply by Kevin on March 3, 2014 at 9:31am

evan, No, .83 would not be right. When you multiply by the royalty percentage, 20% = .20 which would make it .00829  

Permalink Reply by Doug Duffield on March 3, 2014 at 11:47am

Thanks Donna, just trying to get a little clarity from the original post

 

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