Here’s a breakdown of the major changes recently made to the engineering model that may have impacted your property value:
Handling of economic hurdles for undrilled wells and its impact to mineral value
A change to how undeveloped wells were determined to be viable for future drilling was implemented which lowered the value of acreage in areas with reservoir targets that are borderline economic (or simply need higher prices to be viable). This change may impact how other variables need to be weighted, but this will be determined over time and with further modeling.
Commodity price update to 1/23/2024 NYMEX futures
There wasn’t a huge move from the last NYMEX price deck we ran on 12/21/2023, however prices have been updated to the 1/19/24 NYMEX forward strip. Some stability is a good thing!
Coming soon!
We know you’ve been anxiously waiting for us to add other types of interest to the platform, and we’re in the final stages of testing Non-Op Working Interest (acreage and %), % Overriding Royalty Interest, and % Royalty Interest (rather than acreage interest). Look for it to be rolled out before the end of this month!
