MRP 166: How to Read and Manage Your Royalty Statements
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If you receive royalty income from oil & gas wells, you probably are familiar with the statement that accompanies your royalty check. This statement contains a lot of useful information that you can use to make sure you are getting paid correctly. From the volumes of oil, natural gas, and natural gas liquids that were sold in a given month to the price that was paid for these products to what post-production costs were deducted from your royalties, if any. These are critically important to keep track of as a royalty owner to ensure that you are getting paid what you deserve.
Thankfully there are a few shortcuts and time-saving tips that you can take to streamline this process for you and your family or for your company. That starts with automating the process of keeping track of your royalty check payments and looking on a map to see where new permits or rigs are located relative to your interests. Better yet, how about an automated email notification if a new permit is filed nearby? Learn about this and more in this episode. As always, links to the resources mentioned in this episode can be found at mineralrightspodcast.com.