Freehold and Overriding Royalty Basics and Set up for Production Accountants
November 3, 2016
1:00 pm – 4:30 pm
Overview of Joint Venture Accounting Basics.
- How to interpret Well Abstracts from a Land System
- What the difference is between a Freehold Royalty and a Gross Overriding Royalty (GOR)
- What are Fixed and Sliding Scale Royalty definitions?
- How do deductions on Royalties work and where do we find the information?
- Common mistakes made when paying Royalties
- What is a Royalty Taken in Kind (TIK) and how should this work in your PA system?
- Do you pay Royalties on behalf of your Working Interest Partners?
- How to handle split Royalties (Freehold and Crown)
This workshop is an interactive, instructor-led session. Participants will develop an understanding of Freehold and Overriding Royalty Basics and Set up for Production Accountants by looking at specific examples and through class discussion.
Who will benefit:
This seminar will address Freehold and Overriding Royalty Basics and Set up for Production Accounting new to working in this area.
Speaker: Kent Geddes