Comparison between the Brakken well and the Dahl well:
Brakken:
Dahl:
The well:
A brand new well.
Since this is a brand new well we can help explain to the reader what an oil company's production statement looks like. I've never done this before. No one has taught me anything about reading production statements and I haven't googled anything on production statements, so some / much of this could be wrong.
The calculations:
Williston 30-31F XE |
Size of Drilling Unit |
Total bbls January, 2024. |
Price |
Owner’s Volume (bbls) |
Bbls / acre (total bbls / size of unit) |
Decimal interest |
Volume (column g) x column (c) |
My calculations |
Company’s |
Royalty interest est |
Acres est based on RI est |
|
2560 |
61,026.68 |
$70.76 |
1.83 |
23.8385 |
0.00002995 |
1.83 |
$129.49 |
$129.34 |
0.375 |
0.2 |
|
2560 |
61,026.68 |
$70.77 |
2.67 |
23.8385 |
0.00004368 |
2.67 |
$188.96 |
$188.65 |
0.375 |
0.3 |
|
2560 |
61,026.68 |
$70.75 |
0.28 |
23.8385 |
0.00000460 |
0.28 |
$19.81 |
$19.86 |
0.375 |
0.025 |
|
2560 |
61,026.68 |
$70.77 |
7.16 |
23.8385 |
0.00011727 |
7.16 |
$506.71 |
$506.45 |
0.375 |
0.8 |
|
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|
11.94 |
|
|
|
$844.97 |
$844.30 |
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Comments: |
Size of drilling unit: a section line well — four sections. |
Total crude oil sold in January, 2024, from this well in bbls. |
Price oil was sold at (may vary slightly. |
From the company on the production sheet. |
My calculation: (column C / column B) |
Decimal interest (column G) was determined by the company. |
My calculation confirms the company’s calculation. |
Royalty at the wellhead; my calculation (column H times column D). |
Royalty at the wellhead; the company’s number. |
My estimate. 0.375 is 3/16ths. |
My estimate based on the estimate in column K. |
The maps:
The scout ticket and production data:
Wow, wow, wow -- a reader whom we will call Tucker just noted a new well on his / her monthly production statement. Tucker has never paid much attention with his / her production statements but with a brand new well, Tucker thought it was a great time to see if I could help him / her with reading / making out the production statement. So, this weekend, I will post some YouTube videos explaining oil production statements.
This should be fun.
Okay, I've started taping the videos.
These videos are very amateurish.
I may have a lot of this wrong, and all of this information can be found on the web posted by much more knowledgeable folks and much more professionally. I often use terms incorrectly, and I often round numbers, so take all of this with a grain of salt. I'm simply trying to explain to a reader how to read his/her production statement.
I'm hoping to provide enough information -- right, wrong, whatever -- to get the reader started.
Feel free to fact-check and re-run the numbers.
Again, this is for one reader; it is not for the general audience. If in any way you think this might affect your own minerals, go to other sources for better and more accurate information.
I think Clip 1 is the worse; I may re-do it.
Clip 2 is of the well itself -- where it's located, etc.
Clip 3 is probably the one the reader is most interested in -- how to calculate the decimal unit and how the decimal unit is useful.
So, here goes.
Clip 1:Size of the drilling unit:
Number of acres owned by a mom-and-pop mineral owner:
Mineral override:
So, first example:
That's all one needs to know about calculating decimal units.
Rule: this is the most important rule to remember --
every well stands alone.
Two wells on the same pad can be drilled in different drilling unit sizes.
Why wells sitting right next to each other can have different decimal units:
Working backwards:
Things change but once changed will not change again:
A reminder:
The case, the reader's deed and then the case (this is not a permit). Not likely to see the well for a year or so.
February 8, 2024:
Petro-Hunt Runs |
|
|
|
Dec 23 |
Nov 23 |
Oct 23 |
Sept 23 |
Aug 23 |
Jul 23 |
Jun 23 |
118-10112 |
|
Charlson Madison South Unit |
|
|
|
|
|
|
|
|
118-16987 |
17400 |
Sherven Trust 27B-2-4H |
|
652 |
893 |
923 |
845 |
857 |
1,054 |
766 |
118-17723 |
19979 |
USA 153-95-22C-15-1H |
|
1,414 |
1,409 |
1,574 |
1,467 |
1,533 |
1,552 |
1,492 |
118-17976 |
22334 |
USA 153-95-22C-15-2H |
|
1,070 |
714 |
773 |
916 |
822 |
873 |
959 |
118-19257 |
26214 |
USA 153-95-22C-15-3H |
|
2,058 |
2,227 |
2,197 |
2,362 |
2,481 |
2,472 |
2,678 |
118-19258 |
26206 |
Sherven Trust 153-95-27B-2H |
|
628 |
688 |
574 |
611 |
573 |
534 |
330 |
118-19259 |
26205 |
Sherven Trust 153-95-27B-3H |
|
551 |
454 |
580 |
458 |
505 |
569 |
560 |
118-19431 |
27055 |
Van Hise Trust 153-95-28D-21-1HS |
|
649 |
615 |
650 |
537 |
317 |
757 |
668 |
118-19432 |
27056 |
Van Hise Trust 153-95-28D-21-2HS |
|
1,988 |
1,924 |
2,070 |
1,267 |
1,186 |
1,163 |
1,618 |
118-19657 |
27375 |
Sherven Trust 153-95-27D-5H |
|
474 |
212 |
428 |
268 |
387 |
187 |
351 |
118-19658 |
27376 |
Sherven Trust 153-95-27D-6H |
|
1,154 |
940 |
883 |
918 |
928 |
1,019 |
943 |
118-19694 |
28015 |
USA 15395-23C-14-2HS |
|
851 |
1,265 |
1,125 |
1,044 |
987 |
1,405 |
1,373 |
118-19695 |
33906 |
USA 153-95-22D-15-1HS |
|
2,783 |
2,730 |
2,638 |
2,465 |
2,577 |
3,538 |
3,695 |
118-19696 |
28017 |
USA 153-95-22D-15-5H |
|
1,057 |
1,229 |
1,223 |
1,485 |
2,174 |
18,000 |
1,396 |
118-19697 |
28018 |
USA 153-95-22D-15-4H |
|
2,629 |
2,344 |
2,580 |
2,469 |
2,501 |
2,207 |
2,327 |
118-19717 |
29092 |
USA 153-95-23C-14-6H |
|
492 |
798 |
881 |
841 |
877 |
1,052 |
1,128 |
118-19718 |
29091 |
USA 153-95-23C-14-5H |
|
3,273 |
2,134 |
2,481 |
1,216 |
1,755 |
1,910 |
1,863 |
118-19944 |
28573 |
Dolezal 145-97-7D-6-3H |
|
1,758 |
1,790 |
2,088 |
1,019 |
1,269 |
1,436 |
1,585 |
118-19946 |
28579 |
Dolezal 145-97-7D-6-1H |
|
1,211 |
1,266 |
1,332 |
1,509 |
1,311 |
1,426 |
1,483 |
118-19947 |
28578 |
Dolezal 145-97-7D-6-2H |
|
1,033 |
1,017 |
1,374 |
1,350 |
1,321 |
1,295 |
1,396 |
118-20386 |
32165 |
USA 153-95-23C-14-4H |
|
2,777 |
2,809 |
2,666 |
2,532 |
2,600 |
2,680 |
2,563 |
118-20388 |
29835 |
Dolezal 145-97-7C-6-4H |
|
1,252 |
1,278 |
1,333 |
1,362 |
890 |
1,394 |
1,358 |
118-20400 |
30569 |
USA 153-95-22C-15-6H |
|
3,268 |
3,001 |
3,332 |
3,284 |
3,478 |
3,327 |
3,410 |
118-20435 |
29834 |
Dolezal 145-97-7C-6-5H |
|
763 |
982 |
462 |
730 |
998 |
984 |
950 |
118-20500 |
30183 |
Sherven Trust 153-95-27A-7HS |
|
795 |
1,035 |
898 |
853 |
916 |
789 |
1,015 |
118-20707 |
33814 |
USA 153-95-23D-14-1H |
|
5,167 |
4,707 |
3,663 |
4,934 |
5,126 |
5,234 |
4,889 |
118-21021 |
32170 |
Dolezal 146-97-31D-30-1H |
|
3,781 |
4,398 |
3,866 |
3,057 |
3,080 |
3,012 |
2,899 |
118-21022 |
32171 |
Dolezal 146-97-31D-30-2H |
|
1,871 |
1,593 |
1,131 |
1,931 |
2,073 |
2,131 |
2,153 |
118-21023 |
32172 |
Dolezal 146-97-31D-30-3H |
|
865 |
1,530 |
1,890 |
756 |
1,597 |
2,173 |
2,076 |
118-21407 |
35581 |
Dolezal 146-97-31C-30-4H |
|
1,547 |
2,511 |
2,745 |
2,637 |
2,695 |
2,744 |
2,742 |
118-21866 |
28016 |
USA 153-95-9A-15-1HS |
|
1,627 |
2,896 |
947 |
1,589 |
1,733 |
1,815 |
775 |
118-21867 |
33905 |
USA 153-95-9A-4-1HS |
|
853 |
829 |
525 |
1,485 |
1,492 |
1,718 |
1,636 |
118-22246 |
33812 |
USA 153-95-23D-14-3H |
|
2,733 |
2,089 |
2,885 |
2,127 |
2,406 |
2,457 |
2,509 |
118-22247 |
33817 |
USA 153-95-23D-14-1HS |
|
4,034 |
3,630 |
3,751 |
2,795 |
2,943 |
3,519 |
2,618 |
118-22248 |
33813 |
USA 153-95-23D-14-2H |
|
3,270 |
3,138 |
4,274 |
4,018 |
4,593 |
4,831 |
4,362 |
118-22662 |
34121 |
Van Hise Tr 153-95-28C-27-1HS |
|
3,181 |
3,585 |
2,185 |
2,252 |
2,200 |
2,232 |
2,181 |
118-23423 |
31468 |
Herland 14-12HS |
|
490 |
495 |
731 |
498 |
728 |
483 |
479 |
118-23455 |
24449 |
Legaard 2-25HNA |
|
495 |
599 |
6 |
110 |
392 |
402 |
438 |
118-23456 |
24448 |
Legaard 2-25HNB |
|
414 |
399 |
324 |
344 |
400 |
388 |
438 |
118-23457 |
20878 |
Legaard 4-25H |
|
420 |
446 |
320 |
342 |
428 |
413 |
476 |
118-23541 |
37987 |
Rose 16Zabolotny 144-98-4A-9-1H |
|
4,662 |
4,793 |
3,586 |
4,717 |
5,426 |
5,085 |
4,830 |
118-25937 |
Rose 16-24HN |
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69,990 |
71,392 |
67,894 |
65,400 |
70,555 |
90,260 |
71,408 |