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Instructions and Help about oil and gas division order calculations

What in a perfect world your your client has negotiated an audit clause in their lease because that's really the only way that you can get access to the information that is being used to calculate those royalties everything else that we talked about is our best guess to try to back into it and to verify it from independent sources but the number one best way is to get that right of audit in the underlying lease.

FAQ

Oil and gas industry: what degrees should I have in order to work in fields related to shale gas fracking?
I'm a mechanical engineer that works as a petroleum engineer.  I work with lots of petroleum, chemical, and civil undergrads, even starting to see some electrical kids.  Just get an engineering degree and some field experience on a drill rig, workover rig, frac crew, flow test crew, etc, and you'll have a job offer when you graduate (assuming oil prices don't tank).
Why are upstream oil and gas jobs in Texas so hard to fill right now?
Some reasons:They burned too many people in the recent past - Not many people want to risk moving to remote areas of Texas and then becoming unemployed in 18 months to two years…again. It's happened too many times, and experienced hands are sick of it. They aren't fooled by the promises of high wages and potentially long term jobs as they have seen what happens.The jobs are in areas where people don't want to live - West Central Texas is great for Texans. However, most people have no desire to live there. That's where the jobs are.It's hard work - It's long hours, lots of driving and heavy, dirty labor. Those jobs just aren't appealing to younger people, and many older people can no longer perform them.They want trained people - Instead of training people, most employers want people who already have skills. Those people are fewer than they used to be and most already have gigs.Texas can be a hard place to live - If you aren't familiar with the state, you may not find it to be to your liking. Many people don't.References,Texas upstream employment trends indicate talent shortageCompanies, needing Permian workers, find West Texas a hard sell
When are we likely to run out of fossil fuels?
Since the time of oil extraction started, the known amount of extractable oil, for the current consumption at that time, has been at 40yrs. You can find articles in the late 1800’s, early 1900’s, 1950’s, 60’s, 70’s, all the way up into the 90’s at least that show we’ll run out of oil in 40yrs. Today though we’re at about 70yrs for current production rate with known reserves.The fact is we always had newer technologies to find and extract it. We’re coming to an age where we’re within decades of not needing oil for the vast majority of fuel purposes (probably will still need it for air travel), we’ll need it for production of various materials as well.Coal the world as a whole has identified about 1.3Trillion Short Tons of Coal, we consume about 9B Short Tons of Coal a year, that’s about 144yrs worth at current consumption. Coal consumption has been leveling off, and is expected to start dropping.Natural Gas proven reserves 187,300,000,000,000 m^2 consumption 3,468,600,000,000 per year - 54yrsSo, if we continue using like we are, we’re probably could sustain it at least 100yrs maybe more, one could assume we can identify and locate more fossil fuel resources as we have always been able to do so. But more importantly, we are likely to be vastly reducing our reliance on fossil fuels in the decades to come, We’ll never likely run out of coal as we’ll stop using it, oil - our reliance should be drastically reduced. Natural gas, maybe the one that’s most likely to be closest to being depleted, but still not likely before the year 2100 IMO.
How many day until the gas at gas stations runs out and needs to be filled up again?
The company I work for has 50 service (gas) stations spread over a wide area in rural Victoria, New South Wales and South Australia.We'd (almost) never let a site actually run out.Each site is fairly unique, depending on available storage, customer numbers and time of the year (many sites are in "seasonal" farming or tourist areas)If I had to pick an average it'd be two to four days between most deliveries at most sites. We will have sites "topped" up even when they still have 50% left in the tanks, if they get close to 10% there's a bit of a panic to get them filled ASAP.Many locations we have were developed a lot of years ago, and tank capacity isn't really good enough at some of the older sites for the amount of vehicles that are on the road now.Even at some of the sites we have, at the best and more modern sites we can be topping up daily, or even twice a day through busy times like Christmas and EasterOur fuel is divided up 50/50 between retail (gas/service stations) and wholesale, direct deliveries to farm, orchard, mines, commercial industries etc, so we have a fairly significant fleet of trucks that are on the road every day.
How long will the oil and gas industry suffer due to low oil prices?
HiAccording to history a bear cycle in energy lasts around 10 years . this is cause of capital investment cycle and the price-demand-supply -technology cycle.this bear cycle started in 2010.. give or take a year..this should last easily till 2021 based on history and if everything else were constant as last time , i mean drilling technology which has advanced. and because of that there is a new player (USA). of course fringe players will have fallen off by then.but i think looking my crystal ball, this bear cycle will last till 2022.again give or take a year.cheersParag
How can I cash a money order if I fill it out wrong?
If it is a US PS Money order there should be no problem . The issuing Post office has a record of what was paid for the Money Order. If you bought the Money Order , your receipt will have the amount you paid. If it is a matter of the wrong name or information written on the Money order. Again bring it to the Post office they will issue a new one.
How do you fill a money order?
How To Fill Out A Money Order sometimes makes the user confusing and irritating. You can easily figure out each and every step with full procedure by visiting on the link.
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