All about mineral rights, royalties, and lease agreements
Non-consent, participation, and election letters. If you own a working interest (see my previous post on Types of Oil and Gas Interests) in an oil and gas lease you might receive an election notice from the operating company. When an operating company decides to drill a new well on a lease or perform significant work…
Continue reading →Understanding oil and gas royalty statement product codes is the next step to becoming a better informed royalty owner. The product code section of the statement, located in the upper right hand corner of our Example Royalty Statement (clickable link), identifies each source of revenue from the well of lease. It is unlikely, although possible, that a…
Continue reading →Let’s continue our series on reading a royalty statement by discussing different types of oil and gas interests that may be seen on statements. We will continue using this Example Royalty Statement (clickable link) which is formatted just like an actual producing company’s statement. In the last post we discussed a pretty straightforward part of the statement,…
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