Annual report pursuant to Section 13 and 15(d)

Note 11 - Oil and Gas Producing Activities (Unaudited)

v3.8.0.1
Note 11 - Oil and Gas Producing Activities (Unaudited)
12 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Oil and Gas Exploration and Production Industries Disclosures [Text Block]
1
1.
Oil and Gas Producing Activities (Unaudited)
 
The Trust
’s share of oil and gas produced, all of which is from royalty interests, was as follows for the years ended
December 31, 2017,
2016
and
2015,
respectively: oil (in barrels) –
818,854,
569,585
and
383,961,
and gas (in thousands of cubic feet) –
4,174,691,
2,612,965
and
1,910,389.
Reserves related to the Trust’s royalty interests are
not
presented because the information is unavailable.
 
There are a number of oil and gas wells that have been drilled but are
not
yet completed (“DUC”) where the Trust has a royalty interest. Currently, the Trust has
identified
206
DUC wells affected by our royalty interest. The process of identifying these wells is ongoing and we anticipate updates going forward to be affected by a number of factors including, but
not
limited to, ongoing changes/updates to our identification process, changes/updates by Drilling Info (our main source of information in identifying these wells) in their identification process, the eventual completion of these DUC wells, and additional wells drilled but
not
completed by companies operating where we have a royalty interest.