Free educational guides and learning center for mineral owners, royalty interest holders, and energy investors. Understand leases, DUC wells, spuds, and lateral drilling.
The Drilling Permit ProcessBefore an operator can turn dirt or move a drilling rig onto a pad, they must secure a drilling permit (Form W-1 ...
What is a Spud Date?In oilfield terminology, "to spud" a well means to begin the drilling process. The spud date is the official day when th...
The Horizontal RevolutionFor the first century of oil exploration, wells were exclusively vertical. However, tight shale rocks have extremel...
Defining a DUC WellA Drilled Uncompleted Well (DUC) is a wellbore that has been drilled to its total target depth (including the horizontal ...
The Completion Stage (Hydraulic Fracturing)To turn a DUC well into a producing well, it must be stimulated. Pumping crews isolate sections o...
What Are Mineral Rights?When you own land in the United States, you typically hold two types of estates: Surface Rights (the right to use th...
What is a Working Interest?A working interest (WI) is an investment in an oil and gas leasehold that gives the owner the right to explore, d...
Three Approaches to Mineral Appraisal The Income Approach: The gold standard for producing minerals. Engineers construct decline ...
Establishing Title (The Paper Trail)Oil companies cannot release royalty payments until you prove ownership in the county records. If there ...
The Mineral Lease: Keeping the AssetLeasing allows you to retain ownership of the mineral estate. You receive a signing lease bonus (one-tim...