Online Division Order Certificate Program: Module 4 of 6 - Calculations / Instructor Sherry Robinson
(PTRT1000)

The required text is the NADOA Study Guide, which is $75 (one-time charge). Students need to join NADOA http://www.nadoa.org/ for $75 to download the "no cost" manual only available to members.

Course cost includes a $13.50 Distance Learning Fee.

 

Hands-on workshop consisting of both lecture and class exercises designed to teach the primary function of a Division Order Analyst - setting up a Division Order pay sheet (also known as setting up a well or setting up a "deck"). From the moment the Division Order Analyst receives notice of a well permit to notice of actual production, the division order pay sheet must be set up accurately to ensure that proper payments are made to all parties. This module provides an in-depth analysis of the many terms encountered by a Division Order Analyst when setting up the various ownership interests in a pay sheet including Gross Working Interest (GWI), Net Revenue Interest (NRI), Non-Participating Royalty Interest (NPRI) and Unleashed Mineral Owner (UM.) Using a hypothetical fact pattern and a sample Title Opinion, students will apply the knowledge they have gained to set up a Division Order pay sheet in Excel for the Collins # 1 well including the distinction between when an owner is in "Pay" Status and the title issues which would warrant "suspense" status.

 

By the end of Module 4, students will be able to:

 

  • Understand the Different Ownership Interests in a Well

  • Understand the Terminology Used when Calculating Interests

  • Set Up a Well in Excel

  • Calculate the Decimal Interests of Owners in the "Collins #1" mock well

  • Calculate an interest in a Horizontal Well, how tracts are calculated

  • Understand the profitability of a lease

  • Farmouts and calculating overrides

  • Working Interest going non-consent and the formula for the partners share of the non-consent partner

  • Senate Bill 168 formula for royalty payments in Oklahoma

 

Sherry Robinson has over 33 years of land administration experience, as a Senior Division Order Analyst and Land Administration Manager, managing and training new employees. In 2005 Sherry and Rhonda Stacy formed Division Order Beginnings to bring training to the entry level employee, or potential employee trying to move into the petroleum industry. Sherry has taught many work-shops with the National Association of Division Order Analysts, Sooner Association of Division Order Analysts in Tulsa, Oklahoma and the Appalachian Basin Association of Division Order Analysts, in Pennsylvania and various other petroleum organizations.

G109164Q Jul 5 - 28 8:00 am - 10:00 pm
Sun,Mon,Tue,Wed,Thu,Fri,Sat  $612.50
($637.50 out-of-state)
PPDC Building, 105 W. Illinois, Midland, TX
Registered: 1 12.0 Hours


Midland College is accredited by the Commission on Colleges of the Southern Association of Colleges and Schools to award certificates
and associate and baccalaureate degrees. Contact the Commission on Colleges at 1866 Southern Lane, Decatur, Georgia 30033-4097
or call 404-679-4501 for questions about the status of Midland College.

Midland College is an Equal Opportunity Employer/Educator

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