How to Research Your Mineral Rights

How to Research Your Mineral Rights

Map of Free Data

If you have mineral rights, then you no doubt have questions concerning them. PetroValues offers mineral owners more information online than ever available before without any cost. You don’t have to pay tens of thousands of dollars in data subscriptions like many industry professionals do. On PetroValues.com, you can access well & production data for free, easier, faster, and more accurately. It allows users to locate their areas of interest, understand the types of wells nearby, and view local production and operators.

Mineral owners can even use this free information to check their royalty payments. Please see our next blog coming soon if you’re interested in checking your royalty payments. 

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Locate Your Mineral Rights Property

To begin, you must locate your mineral property. On PetroValues’ map, you can search using an API number (a number identifying an oil or gas well), County name, or Township Range Section. If you have this information, then enter it in the search bar above the map. Soon you will be able to search using a home address.

Search-for-Mineral-Rights
PetroValues’ Search Bar

 Go to Map

If you do not have this information readily available you can also search our map simply by scrolling and identifying unique landmarks surrounding your property. For instance, if you know your property is 20 miles south of a city and 10 miles east of a highway, you can use these features to get you closer to your property. Start off with broader categories like states, then cities, then major thoroughfares or geological features, until you can narrow into your section. 

Mineral-Rights-Map
PetroValues’ Map

To see landmarks better, you can turn off the wells by clicking on Map Filters > State approved wells. Then turn the wells back on the same way.

Filter-Wells-Mineral-Rights-Map

Understanding the Map

When you are able to zoom into your area of interest enough to distinctly see where wells are located, you will also be able to start to distinguish the types of wells that are located on or near your property.

In the images above and below, you can see that there are many dots on the map. These are wells. The type of well is identified and simplified through the color. 

Type-of-Wells-on-Mineral-Rights-Map

*Are you interested in having your property on the map like the listings of mineral rights? Contact us to get a free valuation of your property and a free listing on our map! Our map will expose your property to competitive bidding which typically earns mineral owners 2-7 more than their original offers!

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Types of Wells

As you can see from the map filters’ drop-down menu from our map, each well is color coded for quick and easy analysis. See the short description below for each type of well to learn a little more about what each one means. 

producing-well-petrovaluesProducing Well (green): A well that is producing oil and/or gas and its production is being recorded to the state. A producing well might be temporarily shut in.

drilled-well-petrovaluesDrilled Well (yellow): A well that has recently been drilled but is not yet recorded as having produced oil and/or gas. Because operators report data to the state with an average of 3 months delay, PetroValues assumes that a drilled well has just started producing last month. 

permitted-well-petrovaluesPermitted Well (orange): A Permitted well has been authorized by a State Oil & Gas Commission after an Operator submitted a permit application. It does not guarantee that there will be a well drilled there, but it does show a high interest and claim of an area by an operator. 

service-well-petrovaluesService Well (blue): A Service well includes but is not limited to water and CO2 injection wells for EOR purposes and salt water disposal wells.

abandoned-well-petrovaluesAbandoned Well (brown): An abandoned well has been plugged and abandoned. PetroValues will also flag a well that hasn’t produced in 18 months as an abandoned well although the operator might not have filed the changes of well status at the State Commission.

upside-well-petrovaluesUpside Well (purple): An upside well is a potential well that is not permitted but that could be drilled based on PetroValues geological reservoir characterization. PetroValues will estimate the wells’ density for each type curve area and will automatically place potential wells to exploit the remaining hydrocarbon reserves based on Drilling Spacing Units.

Horizontal Vs. Vertical Wells

When you zoom in on an area, you will see different directional wells based on the shape. You will either see just a dot, which represents a vertical well, or you will see a dot connected to a line. This line shows a horizontal well and it’s length underground. 

Horizontal-Vertical-Wells-PetroValues-Map
These wells are located in New Mexico at Township-Range 25S 32E  Section 27. Want to see these specific wells on the map? Search for this API number, 3002543353.

Local Production & Operators

If you would like to view more information about these particular wells surrounding your property, just start by hovering your mouse over one of the dots. 

Well-Information-Mineral-Rights-Map

Once you’ve been hovering your mouse you will see this popup of information. Here you can see the API number or a well identification tag, the well name, and the operator. 

Now click on that well. 

Well Report Card PetroValues Map

Once a well has been selected, you can view this specific well’s information, including the valuation of 1% net revenue interest (1% NRI, 1% royalty or 1% override) for the remaining life of the well, which means from next month onward. Contact us or use a subscription to look at revenues in the past, for groups of wells, or for more complex ownership. 

The well report card will also show: 

  • the net cash flow summary of this 1% override well’s valuation
  • the geological formation the well produces from
  • the well’s production
  • the well’s forecast
  • the well’s accumulated production to date
  • the well’s net remaining reserves (the cumulated total remaining production for 1% override)
  • the well’s Estimated Ultimate Recoveries (EUR), the total past and future remaining production 

For mineral owners, the production and the ownership will probably be the most helpful information when researching your mineral rights. If you’d like to check your royalty payments using the production graph, please see our next upcoming blog. 

Hopefully this gets some major questions answered about your personal property. As most information does, it probably prompts many more questions. We are available by chat, phone, email, or even in person, at select meeting times and locations. Please subscribe to our blog to stay up to date with the next upcoming meetings and tips on how to protect your mineral rights and how to get the best mineral deals!

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