Okay I want to walk us through how to calculate a royalty and working interest now this is going to be helpful to you if you are a royalty interest owner and you're trying to figure out how the oil and gas companies calculate those crazy decimals or if you work for one of those oil and gas companies and you just need a better understanding of how royalty and working interests are calculated so we'll start with a couple of basic definitions and one is that the landowner the landowner is also known as the lessor and you will frequently hear them referred to as lessor so I want you to understand the terms lessor kind of rhymes with land owned or it's one easy way to remember it and then oil and gas company is also known as the lessee so company rhymes with lessee that's an easy way to remember it so we're going to look at what the royalty calculation and working interest calculation would be in an oil and gas lease before we took the lease and then after we took the lease and of course this all depends on what the royalty interest is or what the royalty fraction is some other terminologies that I want you to understand is working interest the working interest owner is the person that pays the expenses so who is responsible for the expenses and then the net revenue interest is what the revenues are so we're going to look at that for before lease and after lease now in order to understand a royalty calculation you really have to understand the basics of what we call the grand bargain and the grand bargain in the law see if I can write that down the grand bargain and...
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Deleted interest oil gas Form: What You Should Know
Filing Form 730: In order to make the deletion of Standard Exception 5 of the WIG, the borrower/seller must file and cause to be filed an affidavit in writing to show that the easement or claim of easement is Not shown in public records. DELETING STANDARD EXCEPTION | FEDERAL Standard Exception 6 : Easements or claims of easements not shown by public records. This may be deleted with a borrower/seller affidavit in a form Filing Form 730: In order to make the deletion of Standard Exception 6 of the WIG, the borrower/seller must file and cause to be filed an affidavit in writing not showing the easement or claim of easement. DELETING STANDARD EXCEPTION | FISCAL Standard Exception 7 : Unenforceable easements not shown in public records. This may be deleted with a borrower/seller affidavit in a form Filing Form 7 “Standard Exception” 7: Easements and Claims not shown in public records. This can sometimes be deleted as follows: a. In all the cases listed in Example 11. b. If the borrower/seller is willing to sign the form stating that easement or claim of easement is not shown on the WIG or Form 730. c. If any of the following easements or claims are subject to an express or implied trust or right of survivorship A. Easements or claims of easements shown on public records. B. Easements or claims not shown on the WIG or Form 730. See: Exceptions to Declaration of Non-Existence of Easements on Public Records under § 1. Filing Form 730. (1) To delete the applicable standard and/or special exceptions, the borrower/seller must first (a) Identify each standard exception and/or special exception that is not shown on the WIG or Form 730 by providing the following information: Example 11. Example. 11 Deleted exception number. (b) Complete and sign a Declaration of Non-Existence of Easements on Public Records. The Declaration must be on the filing sheet. Use this Declaration to identify each standard exception and/or special exception that is shown by a public record that is not shown on the WIG or on Form 730.
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