Revenue Interest Report
A revenue interest report answers the question every operator, purchaser, and royalty owner eventually has to answer in writing: when this tract produces, who is paid, and in what share? It applies each lease, reservation, and assignment to the mineral ownership beneath a tract and states every entitled interest as a Net Revenue Interest in the producing unit.
The package below is a working example of the report and the runsheet as Archive delivers them. The parties and tracts in it are fictional.
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Revenue Interest Report
SampleNE/4 NE/4, Section 14, Township 24 South, Range 28 East, N.M.P.M.
A delivered Archive package also includes the supporting recorded instruments. This sample shows the two deliverables that summarize them, the report and the runsheet; source-document scans are not included in these public examples. The full sample reader adds the summary and the notes and advisories.
Every royalty, override, and working interest in the tract — reconciled to one tract factor, nothing counted twice, nothing left out.
This report is supplied without warranty, either express or implied. This is not a title opinion and does not constitute legal advice.
Order Details
| OWNER NAME | INTEREST | NET ACRES | SOURCE DOCUMENT |
|---|---|---|---|
| Aldecott Family Trust | 15.00000000% | 6.0000 | MD 58/430 |
| Hollowmere Minerals, Ltd. | 15.00000000% | 6.0000 | MD 96/268 |
| The Halvorsen 2004 Trust | 15.00000000% | 6.0000 | MD 199/48 |
| Villeroy Land Company | 15.00000000% | 6.0000 | MD 24/391 |
| Estelle Aldecott Nunn | 7.50000000% | 3.0000 | MD 52/240 |
| Hollis P. Aldecott | 7.50000000% | 3.0000 | MD 52/240 |
| Beatrix Thornton Tressilian | 6.25000000% | 2.5000 | PR 12/77 |
| Castellow Mineral Group, LLC | 6.25000000% | 2.5000 | MD 141/512 |
| Marisol Vance | 6.25000000% | 2.5000 | PR 21/93 |
| Tressilian Descendants' Trust | 3.12500000% | 1.2500 | PR 14/206 |
| Unlocated: Heirs of Ada T. Pike | 3.12500000% | 1.2500 | PR 14/206 |
| TOTAL: | 100.00000000% | 40.0000 |
Net acres are net mineral acres in the 40.00-acre tract. Revenue entitlement is tabulated under Rights Under Oil and Gas Leases below.
SECTION DIAGRAM
REVENUE INTEREST TABULATION
The following sets out every interest entitled to production revenue from the subject tract. Each interest is stated as a Net Revenue Interest in the unit — the owner’s interest multiplied by the Tract Factor — so that the sections total the tract’s entire share and no interest is counted twice or left out.
Tract factor: 0.25000000. The subject tract comprises 40.00 of the Larkmoor 14 Unit's 160.00 acres. Net Revenue Interests below are stated as decimal interests in unit production and would be further reduced only upon revision of the unit.
| Owner Name | Lease | Royalty | Net Royalty | Mineral % | NRI |
|---|---|---|---|---|---|
| Hollis P. Aldecott * | 4 | 0.18750000 | 12.50000000% | 7.50000000% | 0.00234375 |
| Villeroy Land Company * | 9 | 0.20000000 | 13.75000000% | 15.00000000% | 0.00515625 |
| Marisol Vance | 10 | 0.20000000 | 20.00000000% | 6.25000000% | 0.00312500 |
| Hollowmere Minerals, Ltd. * | 11 | 0.25000000 | 18.75000000% | 15.00000000% | 0.00703125 |
| The Halvorsen 2004 Trust * | 12 | 0.25000000 | 18.75000000% | 15.00000000% | 0.00703125 |
| Aldecott Family Trust * | 13 | 0.25000000 | 18.75000000% | 15.00000000% | 0.00703125 |
| Estelle Aldecott Nunn * | 14 | 0.25000000 | 18.75000000% | 7.50000000% | 0.00351563 |
| Castellow Mineral Group, LLC | 14 | 0.25000000 | 25.00000000% | 6.25000000% | 0.00390625 |
| Subtotal | 87.50000000% | 0.03914062 |
* Subtotal: leased mineral 87.50000000% NRI 0.03914062. Net Royalty is the lease royalty less the nonparticipating royalty borne by that lease.
| Owner Name | Borne By Leases | NPRI % | NRI |
|---|---|---|---|
| Quillmoor Royalty Partners, L.P. * | 4, 9, 11, 12, 13, 14 | 2.34375000% | 0.00585938 |
| Margaret Quillmoor Thistlewood * | 4, 9, 11, 12, 13, 14 | 1.17187500% | 0.00292969 |
| The Thistlewood Family Revocable Trust u/a/d March 3, 2015 * | 4, 9, 11, 12, 13, 14 | 0.58593750% | 0.00146484 |
| Harriet Quillmoor Voss * | 4, 9, 11, 12, 13, 14 | 0.58593750% | 0.00146484 |
| Subtotal | 0.01171875 |
* Subtotal: NPRI 4.68750000% NRI 0.01171875. A stipulation of interest is recommended for all nonparticipating royalty rows before disbursement.
| Owner Name | Leases | Net ORRI % | NRI |
|---|---|---|---|
| Cordwood Energy Partners * | 9, 10 | 3.00000000% | 0.00159375 |
| Pellridge Overrides LLC * | 14 | 2.00000000% | 0.00068750 |
| Subtotal | 0.00228125 |
* Subtotal: NRI 0.00228125. Overriding royalties are carved out of the leasehold and terminate with the leases they burden.
| Company | Leases | Gross WI % | Net WI % | NRI |
|---|---|---|---|---|
| Larkmoor Resources Inc. | 4, 9, 10, 11, 12, 13, 14 | 83.00000000% | 62.86875000% | 0.15717187 |
| Bitterlake Operating Company | 11 | 1.50000000% | 1.12500000% | 0.00281250 |
| Cordwood Energy Partners | 11 | 1.50000000% | 1.12500000% | 0.00281250 |
| Wrenhollow Petroleum LLC | 11 | 1.50000000% | 1.12500000% | 0.00281250 |
| Subtotal | 87.50000000% | 0.16560938 |
Subtotal: gross WI 87.50000000% net WI 66.24375000% NRI 0.16560938.
| Owner Name | Mineral % | NRI |
|---|---|---|
| Beatrix Thornton Tressilian | 6.25000000% | 0.01562500 |
| Tressilian Descendants' Trust | 3.12500000% | 0.00781250 |
| Unlocated: Heirs of Ada T. Pike * | 3.12500000% | 0.00781250 |
| Subtotal | 12.50000000% | 0.03125000 |
* Subtotal: mineral 12.50000000% NRI 0.03125000. Unleased cotenants take their share of production net of the cost of development and are not bound by any lease. One interest is carried as unlocated — see Record Advisories.
| NRI | |
|---|---|
| Total of all interests | 0.25000000 |
TOTAL INTEREST IN TRACT: 0.25000000 (= tract factor; identity-verified).
RECORD ADVISORIES
[ADVISORY] UNRELEASED OF RECORD — Oil and Gas Lease at OGL 31/077 (Lease 3) carries no release of record; the lessor's interest was re-leased in 1994 (OGL 88/503, Lease 9). Treated as EXPIRED OF RECORD for this tabulation. Verify with the operator before disbursement.
[ADVISORY] UNLOCATED INTEREST — A 3.12500000% mineral interest traced to the heirs of Ada T. Pike could not be placed after the 1974 probate (PR 14/206). A 2001 quiet-title attempt (LP 190/44; CV 190/44) was dismissed without adjudication, so the residue REMAINS outstanding of record. Carried as unleased; an operator proposing development should expect to pool or account for it before disbursement.
[ADVISORY] NPRI APPORTIONMENT — The Quillmoor nonparticipating royalty (RD 18/77; ASG 47/12; distributed at ASG 214/77 among four successor holders) burdens only the interests of the Redfield-derived mineral line, per the reservation's terms; on Lease 14, which also covers a Thornton-line interest, it burdens only the Redfield-line share. A stipulation of interest among the successor holders and the affected lessors is recommended before disbursement.
[ADVISORY] SCRIVENER'S ERROR — Oil and Gas Lease at OGL 44/292 (Lease 5) describes the lands as "NE/4 NE/4 of Section 41" — a transposition of Section 14. The lease is otherwise consistent with the tract; it expired by its terms, but a correction instrument would clear the record.
[ADVISORY] JOINT LESSEE SPLIT — The working interest in Lease 11 is held 70/10/10/10 under ASG 152/88. Confirm each co-lessee's elections under the operating agreement before disbursement; the agreement itself is not of record.
[ADVISORY] AUTHORITY VERIFICATION — The mineral deed at MD 96/268 was executed under the power of attorney at POA 96/255. The power was of record and unrevoked at execution; verify no revocation was later recorded before relying on the conveyance for disbursement.
[ADVISORY] MEMORANDUM LEASE — The Oil and Gas Lease at OGL 141/220 (Lease 11) is evidenced of record by a memorandum (MEM 141/501); the full lease terms are retained by the parties and are not of record. The royalty tabulated is the rate recited in the memorandum — obtain and verify the underlying lease instrument before disbursement.
[ADVISORY] OVERRIDE SUCCESSION — The assignment at ASG 205/144 conveys an overriding royalty of 2.00000000% on Lease 14 to Pellridge Overrides LLC. The override is tabulated as carved from the working interest of that lease only; verify the conveyance scope against the assignment before disbursement.
[ADVISORY] TRACT FACTOR BASIS — The Tract Factor of 0.25000000 is the tract's 40.00 acres over the Larkmoor 14 Unit's 160.00 acres. If the unit is revised, every NRI in this report changes proportionally.
LEASE SCHEDULE
Leases are numbered chronologically; the same numbers are cited throughout the tabulation, the Title Notes and the runsheet. The lessee column states the current working-interest ownership of each lease of record.
| NO | LESSOR(S) | LESSEE / WORKING INTEREST | ROYALTY | RECORDING | STATUS |
|---|---|---|---|---|---|
| 1 | Thornton Heirs (Ada Thornton Pike; Bertram Thornton) | Pellmoor Petroleum Co. (expired by its terms) | 0.12500000 | Book 12, Page 318 | Expired |
| 2 | M.E. Castellow | Pellmoor Petroleum Co. (expired by its terms) | 0.12500000 | Book 18, Page 402 | Expired |
| 3 | Villeroy Land Company | Bitterlake Operating Company (expired by its terms) | 0.12500000 | Book 31, Page 077 | Expired |
| 4 | Hollis P. Aldecott | Larkmoor Resources Inc. 100.00000000% (subject to NPRI) | 0.18750000 | Book 44, Page 291 | HBP |
| 5 | Miriam Redfield Aldecott | Bitterlake Operating Company (expired by its terms) | 0.18750000 | Book 44, Page 292 | Expired |
| 6 | Estelle Aldecott Nunn | Bitterlake Operating Company (expired by its terms) | 0.18750000 | Book 44, Page 318 | Expired |
| 7 | Cora Redfield Halvorsen | Cordwood Energy Partners (expired by its terms) | 0.16666667 | Book 61, Page 145 | Expired |
| 8 | Beatrix Thornton Tressilian | Cordwood Energy Partners (expired by its terms) | 0.16666667 | Book 61, Page 146 | Expired |
| 9 | Villeroy Land Company | Larkmoor Resources Inc. 100.00000000% (subject to NPRI) | 0.20000000 | Book 88, Page 503 | HBP |
| 10 | Marisol Vance | Larkmoor Resources Inc. 100.00000000% | 0.20000000 | Book 88, Page 504 | HBP |
| 11 | Hollowmere Minerals, Ltd. | Larkmoor Resources Inc. 70.00000000%; Bitterlake Operating Company 10.00000000%; Cordwood Energy Partners 10.00000000%; Wrenhollow Petroleum LLC 10.00000000% (subject to NPRI) | 0.25000000 | Book 141, Page 220 | HBP |
| 12 | The Halvorsen 2004 Trust | Larkmoor Resources Inc. 100.00000000% (subject to NPRI) | 0.25000000 | Book 141, Page 221 | HBP |
| 13 | Aldecott Family Trust | Larkmoor Resources Inc. 100.00000000% (subject to NPRI) | 0.25000000 | Book 199, Page 612 | HBP |
| 14 | Estelle Aldecott Nunn; Castellow Mineral Group, LLC | Larkmoor Resources Inc. 100.00000000% (subject to NPRI as to the interest of Estelle Aldecott Nunn only) | 0.25000000 | Book 199, Page 613 | HBP |
TITLE NOTES
Development of the mineral title from the original government patent, followed by the leasehold. Lettered entries are chronological within each group; recording references correspond to the runsheet.
1. SOURCE OF TITLE
PATENT (P 1/171), dated 05/19/1892, from United States of America to J.R. Thornton. Conveying 100.00000000% surface and mineral interest — source of title.
2. CHAIN OF TITLE
WARRANTY DEED (D 9/144), dated 03/02/1907, from J.R. Thornton to Elias Redfield. Conveying the lands, RESERVING unto the grantor an undivided one-fourth (1/4) of all oil, gas and other minerals. (SEVERANCE — the reserved one-fourth remained with the reserving grantor and did not pass to the grantee.)
TRUSTEE'S DEED (D 11/87), dated 06/14/1919, from T. W. Aldecott, Trustee to Amos Brimacombe; H. L. Tennick. Recorded conveyance by a party outside the record chain of title; it does not divest the record owner.
ORDER ADMITTING WILL TO PROBATE (PR 2/311), executed 01/22/1919, in the estate of J.R. Thornton. Vesting of record: Ada Thornton Pike (12.50000000%); Bertram Thornton (12.50000000%).
WARRANTY DEED (D 22/145), dated 09/08/1927, from Elias Redfield to R.T. Castellow. Conveying the surface estate only; ALL minerals theretofore reserved or owned by the grantor are excepted and reserved. (The mineral estate did not pass; the surface chain is outside the scope of this report.)
MINERAL DEED (MD 24/391), dated 04/17/1931, filed 04/24/1931, from Elias Redfield to Villeroy Land Company. Conveying an undivided 15.00000000% interest in and to all of the oil, gas and other minerals in, on and under the lands, together with the right of ingress and egress for the purpose of exploring, developing and producing the same, to have and to hold unto the grantee, its successors and assigns, forever.
MINERAL DEED (MD 29/68), dated 10/02/1936, filed 10/09/1936, from Ada Thornton Pike to Lucien Vance. Conveying an undivided 6.25000000% interest in and to all of the oil, gas and other minerals in, on and under the lands, together with the right of ingress and egress for the purpose of exploring, developing and producing the same, to have and to hold unto the grantee, its successors and assigns, forever.
TAX DEED (TXD 3/220), dated 04/05/1937, from H. G. Christenson, Treasurer to State of New Mexico. Tax deed by a party outside the record chain of title; it does not divest the record owner.
ORDER ADMITTING WILL TO PROBATE (PR 7/102), executed 02/27/1948, in the estate of Elias Redfield. Vesting of record: Miriam Redfield Aldecott (30.00000000%); Cora Redfield Halvorsen (30.00000000%).
MINERAL DEED (MD 33/510), dated 11/19/1948, filed 11/26/1948, from Bertram Thornton to M.E. Castellow. Conveying an undivided 6.25000000% interest in and to all of the oil, gas and other minerals in, on and under the lands, together with the right of ingress and egress for the purpose of exploring, developing and producing the same, to have and to hold unto the grantee, its successors and assigns, forever.
MINERAL DEED (MD 52/240), dated 03/14/1968, filed 03/21/1968, from Miriam Redfield Aldecott to Hollis P. Aldecott; Estelle Aldecott Nunn. Conveying an undivided 15.00000000% interest in and to all of the oil, gas and other minerals in, on and under the lands, together with the right of ingress and egress for the purpose of exploring, developing and producing the same, to have and to hold unto the grantee, its successors and assigns, forever.
ORDER ADMITTING WILL TO PROBATE (PR 12/77), executed 09/30/1969, in the estate of Bertram Thornton. Vesting of record: Beatrix Thornton Tressilian (6.25000000%).
MINERAL DEED (MD 58/430), dated 06/06/1972, filed 06/13/1972, from Miriam Redfield Aldecott to Aldecott Family Trust. Conveying an undivided 15.00000000% interest in and to all of the oil, gas and other minerals in, on and under the lands, together with the right of ingress and egress for the purpose of exploring, developing and producing the same, to have and to hold unto the grantee, its successors and assigns, forever.
ORDER ADMITTING WILL TO PROBATE (PR 14/206), executed 02/11/1974, in the estate of Ada Thornton Pike. Vesting of record: Tressilian Descendants' Trust (3.12500000%); Unlocated: Heirs of Ada T. Pike (3.12500000%). Will admitted; one-half of the decedent's retained share passed of record to the Tressilian Descendants' Trust; the residue passed to heirs whose identities are not established of record.
DISCLAIMER OF INTEREST (DISC 44/118), dated 06/12/1960, from Claude R. Pemberton to The owners of record. Disclaimer of interest: the claimant disclaims any right, title or interest in the subject minerals in favor of the owners of record.
AFFIDAVIT OF MARITAL STATUS (AFF 52/199), dated 03/14/1968, from Miriam Redfield Aldecott to The Public. Affidavit of marital status: affiant states she is a widow and that the mineral interest conveyed by her deed of even date (MD 52/240) is her sole and separate property.
MINERAL DEED (MD 96/268), dated 08/23/1985, filed 08/30/1985, from Cora Redfield Halvorsen to Hollowmere Minerals, Ltd. Conveying an undivided 15.00000000% interest in and to all of the oil, gas and other minerals in, on and under the lands, together with the right of ingress and egress for the purpose of exploring, developing and producing the same, to have and to hold unto the grantee, its successors and assigns, forever.
ORDER ADMITTING WILL TO PROBATE (PR 21/93), executed 04/04/1988, in the estate of Lucien Vance. Vesting of record: Marisol Vance (6.25000000%).
MINERAL DEED (MD 141/512), dated 01/09/1995, filed 01/17/1995, from Estate of M.E. Castellow to Castellow Mineral Group, LLC. Conveying an undivided 6.25000000% interest in and to all of the oil, gas and other minerals in, on and under the lands, together with the right of ingress and egress for the purpose of exploring, developing and producing the same, to have and to hold unto the grantee, its successors and assigns, forever.
NEW MEXICO QUITCLAIM DEED (QCD 148/201), dated 05/20/1996, from Amos Brimacombe, Jr. to Hollowmere Minerals, Ltd. Quitclaim to Hollowmere Minerals, Ltd. No mineral interest of record passed — the grantor does not hold the interest purported to be conveyed; taken of record to clear the 1919 trustee's-deed claim.
NEW MEXICO QUITCLAIM DEED (QCD 148/204), dated 05/20/1996, from Estate of H. L. Tennick to Hollowmere Minerals, Ltd. Quitclaim to Hollowmere Minerals, Ltd. No mineral interest of record passed — the grantor does not hold the interest purported to be conveyed; taken of record to clear the 1919 trustee's-deed claim.
NEW MEXICO QUITCLAIM DEED (QCD 148/207), dated 05/20/1996, from Dorothy Pemberton Hale to Hollowmere Minerals, Ltd. Quitclaim to Hollowmere Minerals, Ltd. No mineral interest of record passed — the grantor does not hold the interest purported to be conveyed; successor to the disclaimed Pemberton claim (DISC 44/118).
NEW MEXICO QUITCLAIM DEED (QCD 148/210), dated 06/03/1996, from The Brimacombe Family Trust to Hollowmere Minerals, Ltd. Quitclaim to Hollowmere Minerals, Ltd. No mineral interest of record passed — the grantor does not hold the interest purported to be conveyed.
NEW MEXICO QUITCLAIM DEED (QCD 148/213), dated 06/03/1996, from Wanda Castellow Reece to Hollowmere Minerals, Ltd. Quitclaim to Hollowmere Minerals, Ltd. No mineral interest of record passed — the grantor holds no mineral interest; the Castellow line took the surface only (D 22/145).
NEW MEXICO QUITCLAIM DEED (QCD 148/216), dated 06/17/1996, from J. F. Castellow to Hollowmere Minerals, Ltd. Quitclaim to Hollowmere Minerals, Ltd. No mineral interest of record passed — the grantor holds no mineral interest; the Castellow line took the surface only (D 22/145).
NEW MEXICO QUITCLAIM DEED (QCD 162/301), dated 08/14/1998, from Heirs of A. L. Penwarden, by their attorney-in-fact to Villeroy Land Company. Quitclaim to Villeroy Land Company. No mineral interest of record passed — the grantor does not hold the interest purported to be conveyed; taken of record to clear successor claims of the Penwarden era.
NEW MEXICO QUITCLAIM DEED (QCD 162/304), dated 08/14/1998, from Charles H. Penwarden, Jr. to Villeroy Land Company. Quitclaim to Villeroy Land Company. No mineral interest of record passed — the grantor does not hold the interest purported to be conveyed; taken of record to clear successor claims of the Penwarden era.
NEW MEXICO QUITCLAIM DEED (QCD 162/307), dated 08/14/1998, from The Penwarden Family Mineral Trust to Villeroy Land Company. Quitclaim to Villeroy Land Company. No mineral interest of record passed — the grantor does not hold the interest purported to be conveyed; taken of record to clear successor claims of the Penwarden era.
NEW MEXICO QUITCLAIM DEED (QCD 162/310), dated 08/14/1998, from Ardella Penwarden Pymm Estate to Villeroy Land Company. Quitclaim to Villeroy Land Company. No mineral interest of record passed — the grantor does not hold the interest purported to be conveyed; taken of record to clear successor claims of the Penwarden era.
NEW MEXICO QUITCLAIM DEED (QCD 162/313), dated 08/14/1998, from Oleta Kettleby Descendants' Partnership to Villeroy Land Company. Quitclaim to Villeroy Land Company. No mineral interest of record passed — the grantor does not hold the interest purported to be conveyed; taken of record to clear successor claims of the Penwarden era.
NEW MEXICO QUITCLAIM DEED (QCD 162/316), dated 08/14/1998, from Nettie Varcoe Revocable Trust to Villeroy Land Company. Quitclaim to Villeroy Land Company. No mineral interest of record passed — the grantor does not hold the interest purported to be conveyed; taken of record to clear successor claims of the Penwarden era.
NEW MEXICO QUITCLAIM DEED (QCD 162/319), dated 08/14/1998, from Walter Penwarden, II to Villeroy Land Company. Quitclaim to Villeroy Land Company. No mineral interest of record passed — the grantor does not hold the interest purported to be conveyed; taken of record to clear successor claims of the Penwarden era.
NEW MEXICO QUITCLAIM DEED (QCD 162/322), dated 08/14/1998, from Verlin Ashmead Family, LLC to Villeroy Land Company. Quitclaim to Villeroy Land Company. No mineral interest of record passed — the grantor does not hold the interest purported to be conveyed; taken of record to clear successor claims of the Penwarden era.
NOTICE OF LIS PENDENS (LP 190/44), dated 04/12/2001, from Cordwood Energy Partners to The Unknown Heirs of Ada T. Pike. Notice of lis pendens in Cause CV 190/44, naming The Unknown Heirs of Ada T. Pike, Deceased, and seeking to quiet leasehold title as to the outstanding Pike residue.
MINERAL DEED (MD 199/48), dated 05/12/2004, filed 05/19/2004, from Cora Redfield Halvorsen to The Halvorsen 2004 Trust. Conveying an undivided 15.00000000% interest in and to all of the oil, gas and other minerals in, on and under the lands, together with the right of ingress and egress for the purpose of exploring, developing and producing the same, to have and to hold unto the grantee, its successors and assigns, forever.
3. NONPARTICIPATING ROYALTY
ROYALTY DEED (RD 18/77), dated 08/11/1924, from Elias Redfield to Quillmoor Investment Company. Conveying a perpetual nonparticipating royalty of one-sixteenth (1/16) of production from the lands, payable out of the grantor's mineral interest and its successors. (Burdens the grantor's retained mineral line; shown in the tabulation as the nonparticipating royalty.)
ASSIGNMENT OF ROYALTY (ASG 47/12), dated 07/21/1961, from Quillmoor Investment Company to Quillmoor Royalty Trust. Assigning the perpetual nonparticipating royalty reserved at RD 18/77 to Quillmoor Royalty Trust.
ASSIGNMENT OF ROYALTY (ASG 214/77), dated 04/22/2015, from Quillmoor Royalty Trust to the trust's successors of record. Distribution and assignment of royalty: the trustee distributes the perpetual nonparticipating royalty (RD 18/77; ASG 47/12) to the trust's successors — Quillmoor Royalty Partners, L.P. (an undivided one-half), Margaret Quillmoor Thistlewood (one-fourth), The Thistlewood Family Revocable Trust u/a/d March 3, 2015 (one-eighth), and Harriet Quillmoor Voss (one-eighth).
4. OIL AND GAS LEASES
OIL AND GAS LEASE (OGL 12/318), dated 03/14/1948, filed 03/20/1948, from Thornton Heirs (Ada Thornton Pike; Bertram Thornton), as lessor, to Pellmoor Petroleum Co., as lessee. Covering the NE/4 NE/4 of Section 14, Township 24 South, Range 28 East, N.M.P.M., Eddy County, New Mexico, for a primary term of 5 years and so long thereafter as oil or gas is produced in paying quantities, reserving unto the lessor a royalty of 0.12500000 of all oil and gas produced and saved. Expired by its own terms.
OIL AND GAS LEASE (OGL 18/402), dated 07/22/1953, filed 07/29/1953, from M.E. Castellow, as lessor, to Pellmoor Petroleum Co., as lessee. Covering the NE/4 NE/4 of Section 14, Township 24 South, Range 28 East, N.M.P.M., Eddy County, New Mexico, for a primary term of 5 years and so long thereafter as oil or gas is produced in paying quantities, reserving unto the lessor a royalty of 0.12500000 of all oil and gas produced and saved. Expired by its own terms.
OIL AND GAS LEASE (OGL 31/077), dated 11/03/1961, filed 11/10/1961, from Villeroy Land Company, as lessor, to Bitterlake Operating Company, as lessee. Covering the NE/4 NE/4 of Section 14, Township 24 South, Range 28 East, N.M.P.M., Eddy County, New Mexico, for a primary term of 3 years and so long thereafter as oil or gas is produced in paying quantities, reserving unto the lessor a royalty of 0.12500000 of all oil and gas produced and saved. Expired by its own terms; no release of record.
OIL AND GAS LEASE (OGL 44/291), dated 05/19/1968, filed 05/27/1968, from Hollis P. Aldecott, as lessor, to Bitterlake Operating Company, as lessee. Covering the NE/4 NE/4 of Section 14, Township 24 South, Range 28 East, N.M.P.M., Eddy County, New Mexico, for a primary term of 10 years and so long thereafter as oil or gas is produced in paying quantities, reserving unto the lessor a royalty of 0.18750000 of all oil and gas produced and saved. Held by production (first production from the lands 1977; since 02/19/2020 through the Larkmoor 14 Unit, MISC 203/88). Burdened by the Quillmoor nonparticipating royalty.
OIL AND GAS LEASE (OGL 44/292), dated 05/19/1968, filed 05/27/1968, from Miriam Redfield Aldecott, as lessor, to Bitterlake Operating Company, as lessee. Covering the NE/4 NE/4 of Section 14, Township 24 South, Range 28 East, N.M.P.M., Eddy County, New Mexico, for a primary term of 3 years and so long thereafter as oil or gas is produced in paying quantities, reserving unto the lessor a royalty of 0.18750000 of all oil and gas produced and saved. Expired by its own terms.
OIL AND GAS LEASE (OGL 44/318), dated 06/02/1968, filed 06/09/1968, from Estelle Aldecott Nunn, as lessor, to Bitterlake Operating Company, as lessee. Covering the NE/4 NE/4 of Section 14, Township 24 South, Range 28 East, N.M.P.M., Eddy County, New Mexico, for a primary term of 3 years and so long thereafter as oil or gas is produced in paying quantities, reserving unto the lessor a royalty of 0.18750000 of all oil and gas produced and saved. Expired by its own terms.
OIL AND GAS LEASE (OGL 61/145), dated 09/28/1979, filed 10/04/1979, from Cora Redfield Halvorsen, as lessor, to Cordwood Energy Partners, as lessee. Covering the NE/4 NE/4 of Section 14, Township 24 South, Range 28 East, N.M.P.M., Eddy County, New Mexico, for a primary term of 5 years and so long thereafter as oil or gas is produced in paying quantities, reserving unto the lessor a royalty of 0.16666667 of all oil and gas produced and saved. Expired by its own terms.
OIL AND GAS LEASE (OGL 61/146), dated 09/28/1979, filed 10/04/1979, from Beatrix Thornton Tressilian, as lessor, to Cordwood Energy Partners, as lessee. Covering the NE/4 NE/4 of Section 14, Township 24 South, Range 28 East, N.M.P.M., Eddy County, New Mexico, for a primary term of 5 years and so long thereafter as oil or gas is produced in paying quantities, reserving unto the lessor a royalty of 0.16666667 of all oil and gas produced and saved. Expired by its own terms.
OIL AND GAS LEASE (OGL 88/503), dated 04/11/1994, filed 04/18/1994, from Villeroy Land Company, as lessor, to Cordwood Energy Partners, as lessee. Covering the NE/4 NE/4 of Section 14, Township 24 South, Range 28 East, N.M.P.M., Eddy County, New Mexico, for a primary term of 3 years and so long thereafter as oil or gas is produced in paying quantities, reserving unto the lessor a royalty of 0.20000000 of all oil and gas produced and saved. Held by production (first production from the lands 1977; since 02/19/2020 through the Larkmoor 14 Unit, MISC 203/88). Burdened by the Quillmoor nonparticipating royalty.
OIL AND GAS LEASE (OGL 88/504), dated 04/11/1994, filed 04/18/1994, from Marisol Vance, as lessor, to Cordwood Energy Partners, as lessee. Covering the NE/4 NE/4 of Section 14, Township 24 South, Range 28 East, N.M.P.M., Eddy County, New Mexico, for a primary term of 3 years and so long thereafter as oil or gas is produced in paying quantities, reserving unto the lessor a royalty of 0.20000000 of all oil and gas produced and saved. Held by production (first production from the lands 1977; since 02/19/2020 through the Larkmoor 14 Unit, MISC 203/88).
OIL AND GAS LEASE (OGL 141/220), dated 02/07/2011, filed 02/14/2011, from Hollowmere Minerals, Ltd., as lessor, to Larkmoor Resources Inc., as lessee. Covering the NE/4 NE/4 of Section 14, Township 24 South, Range 28 East, N.M.P.M., Eddy County, New Mexico, for a primary term of 3 years and so long thereafter as oil or gas is produced in paying quantities, reserving unto the lessor a royalty of 0.25000000 of all oil and gas produced and saved. Held by production (first production from the lands 1977; since 02/19/2020 through the Larkmoor 14 Unit, MISC 203/88). Burdened by the Quillmoor nonparticipating royalty.
OIL AND GAS LEASE (OGL 141/221), dated 02/07/2011, filed 02/14/2011, from The Halvorsen 2004 Trust, as lessor, to Larkmoor Resources Inc., as lessee. Covering the NE/4 NE/4 of Section 14, Township 24 South, Range 28 East, N.M.P.M., Eddy County, New Mexico, for a primary term of 3 years and so long thereafter as oil or gas is produced in paying quantities, reserving unto the lessor a royalty of 0.25000000 of all oil and gas produced and saved. Held by production (first production from the lands 1977; since 02/19/2020 through the Larkmoor 14 Unit, MISC 203/88). Burdened by the Quillmoor nonparticipating royalty.
OIL AND GAS LEASE (OGL 199/612), dated 08/30/2019, filed 09/06/2019, from Aldecott Family Trust, as lessor, to Larkmoor Resources Inc., as lessee. Covering the NE/4 NE/4 of Section 14, Township 24 South, Range 28 East, N.M.P.M., Eddy County, New Mexico, for a primary term of 3 years and so long thereafter as oil or gas is produced in paying quantities, reserving unto the lessor a royalty of 0.25000000 of all oil and gas produced and saved. Held by production (first production from the lands 1977; since 02/19/2020 through the Larkmoor 14 Unit, MISC 203/88). Burdened by the Quillmoor nonparticipating royalty.
OIL AND GAS LEASE (OGL 199/613), dated 08/30/2019, filed 09/06/2019, from Estelle Aldecott Nunn; Castellow Mineral Group, LLC, as lessor, to Larkmoor Resources Inc., as lessee. Covering the NE/4 NE/4 of Section 14, Township 24 South, Range 28 East, N.M.P.M., Eddy County, New Mexico, for a primary term of 3 years and so long thereafter as oil or gas is produced in paying quantities, reserving unto the lessor a royalty of 0.25000000 of all oil and gas produced and saved. Held by production (first production from the lands 1977; since 02/19/2020 through the Larkmoor 14 Unit, MISC 203/88). Burdened by the Quillmoor nonparticipating royalty as to the interest of Estelle Aldecott Nunn only.
5. ASSIGNMENTS AND SUPPORTING INSTRUMENTS
ASSIGNMENT OF OIL AND GAS LEASE (ASG 88/101), dated 02/12/1994, from Bitterlake Operating Company to Cordwood Energy Partners, as to Lease No. 4.
ASSIGNMENT OF OIL AND GAS LEASE (ASG 141/377), dated 06/30/2011, from Cordwood Energy Partners to Larkmoor Resources Inc., as to Lease No. 4.
ASSIGNMENT OF OIL AND GAS LEASE (ASG 141/378), dated 06/30/2011, from Cordwood Energy Partners to Larkmoor Resources Inc., as to Lease No. 9. Reserving an overriding royalty of three percent (3%) of production.
ASSIGNMENT OF OIL AND GAS LEASE (ASG 141/379), dated 06/30/2011, from Cordwood Energy Partners to Larkmoor Resources Inc., as to Lease No. 10. Reserving an overriding royalty of three percent (3%) of production.
ASSIGNMENT OF OIL AND GAS LEASE (ASG 152/88), dated 03/22/2013, from Larkmoor Resources Inc. to Larkmoor Resources Inc. 70%; Bitterlake Operating Company 10%; Cordwood Energy Partners 10%; Wrenhollow Petroleum LLC 10%, as to Lease No. 11.
ASSIGNMENT OF OVERRIDING ROYALTY (ASG 205/144), dated 01/15/2021, from Larkmoor Resources Inc. to Pellridge Overrides LLC, assigning an overriding royalty of two percent (2%) of production, as to Lease No. 14. The working interest is not assigned.
RELEASE OF OIL AND GAS LEASE (REL 21/240), dated 04/02/1956, filed 04/09/1956, from Pellmoor Petroleum Co. to Thornton Heirs et al. Releasing the Oil and Gas Lease at OGL 12/318 (Lease 1), the same having expired by its terms.
RELEASE OF OIL AND GAS LEASE (REL 24/188), dated 09/14/1959, filed 09/21/1959, from Pellmoor Petroleum Co. to M.E. Castellow. Releasing the Oil and Gas Lease at OGL 18/402 (Lease 2), the same having expired by its terms.
RELEASE OF OIL AND GAS LEASE (REL 49/301), dated 07/08/1972, filed 07/14/1972, from Bitterlake Operating Company to Aldecott Family Trust; Estelle Aldecott Nunn. Releasing the Oil and Gas Leases at OGL 44/292 and OGL 44/318 (Leases 5 and 6), the same having expired by their terms.
AFFIDAVIT OF HEIRSHIP (AFF 60/112), dated 03/30/1974, filed 04/05/1974, from Wallace R. Greene to The Public. Affiant states the family history of Ada Thornton Pike, deceased, identifying the devisees under her will and stating that certain residuary heirs are unknown to affiant; filed in support of the probate at PR 14/206.
RELEASE OF OIL AND GAS LEASE (REL 66/45), dated 11/19/1985, filed 11/26/1985, from Cordwood Energy Partners to Cora Redfield Halvorsen; Beatrix Thornton Tressilian. Releasing the Oil and Gas Leases at OGL 61/145 and OGL 61/146 (Leases 7 and 8), the same having expired by their terms.
MEMORANDUM OF OIL AND GAS LEASE (MEM 141/501), dated 02/07/2011, filed 02/14/2011, from Hollowmere Minerals, Ltd. to Larkmoor Resources Inc. Memorandum evidencing the Oil and Gas Lease at OGL 141/220 (Lease 11); the full lease terms are retained by the parties and are not of record.
RATIFICATION OF OIL AND GAS LEASE (RAT 152/90), dated 04/02/2013, filed 04/09/2013, from The Halvorsen 2004 Trust to Larkmoor Resources Inc. Ratifying and adopting the Oil and Gas Lease at OGL 141/221 (Lease 12).
RATIFICATION OF OIL AND GAS LEASE (RAT 199/620), dated 10/11/2019, filed 10/18/2019, from Castellow Mineral Group, LLC to Larkmoor Resources Inc. Ratifying the Oil and Gas Lease at OGL 199/613 (Lease 14) as to the undersigned's undivided mineral interest in the lands.
NOTICE OF LIS PENDENS (LP 40/112), dated 11/02/1952, filed 11/02/1952, from R.T. Castellow to The record owners of the mineral estate. Notice of the pendency of Cause CV 41/295, District Court, Eddy County, concerning title to the subject lands; resolved by the decree at CV 41/295.
MORTGAGE (MTG 44/218), dated 03/03/1955, filed 03/10/1955, from R.T. Castellow to First State Bank of Tamarisk. Mortgage covering the surface estate of the subject lands; does not affect the severed mineral estate.
RELEASE OF MORTGAGE (MTG 51/402), dated 08/21/1961, filed 08/28/1961, from First State Bank of Tamarisk to R.T. Castellow. Releasing the mortgage at MTG 44/218 in full.
RIGHT OF WAY GRANT (ROW 74/310), dated 05/06/1978, filed 05/12/1978, from R.T. Castellow Estate to Sotol Mesa Electric Cooperative, Inc. Granting an electric distribution easement across the subject lands; surface burden only.
POWER OF ATTORNEY (POA 96/255), dated 06/30/1985, filed 07/08/1985, from Cora Redfield Halvorsen to Dale R. Halvorsen. Appointing an attorney-in-fact for the management of the grantor's mineral interests, including the execution of the mineral deed at MD 96/268.
DESIGNATION OF POOLED AREA (MISC 203/88), dated 02/12/2020, filed 02/19/2020, from Larkmoor Resources Inc. to The public record. Designating the Larkmoor 14 Unit (160.00 acres, being the NE/4 of Section 14) as a pooled area for the production of oil and gas; the subject tract's participation is 40.00/160.00 = 0.25000000.
ANCHOR AND RIGHT-OF-WAY EASEMENT (ROW 209/140), dated 09/02/2021, filed 09/09/2021, from Sterling Basin Ranch, LLC to Sotol Mesa Electric Cooperative, Inc. Anchor and right-of-way easement across the subject lands; surface burden only.
DIVISION ORDER (DO 207/33), dated 06/15/2021, filed 06/22/2021, from Larkmoor Resources Inc. to The royalty owners of record. Division order for the Larkmoor 14 Unit reciting the decimal interests of the royalty owners; execution of a division order does not amend the underlying leases. Not relied upon for the tabulation.
6. TAX SALES AND ADJUDICATIONS
FINAL DECREE QUIETING TITLE (CV 41/295), entered 05/07/1953. Decree quieting title in the record owners as tabulated; no interest divested.
STIPULATION AND CROSS-QUITCLAIM (STIP 60/334), entered 09/09/1974. Stipulation and cross-quitclaim among the Redfield successors, confirming the division of the Redfield 60.00000000% (PR 7/102) as tabulated and disclaiming as among themselves any greater share.
ORDER OF DISMISSAL (CV 190/44), entered 11/05/2001. Cause dismissed without prejudice as to The Unknown Heirs of Ada T. Pike for want of service by publication proof; the outstanding residue was NOT adjudicated and remains of record.
7. ADVERSE AND SUCCESSOR CLAIMS OF RECORD
T. W. Aldecott, Trustee to Amos Brimacombe; H. L. Tennick 06/14/1919 (D 11/87). A recorded instrument purports to convey or claim the subject minerals, but no interest of record supports it; it does not divest the record owners. Carried as an adverse or successor claim of record.
H. G. Christenson, Treasurer to State of New Mexico 04/05/1937 (TXD 3/220). A recorded instrument purports to convey or claim the subject minerals, but no interest of record supports it; it does not divest the record owners. Carried as an adverse or successor claim of record.
Amos Brimacombe, Jr. to Hollowmere Minerals, Ltd. 05/20/1996 (QCD 148/201). A recorded instrument purports to convey or claim the subject minerals, but no interest of record supports it; it does not divest the record owners. Carried as an adverse or successor claim of record.
Estate of H. L. Tennick to Hollowmere Minerals, Ltd. 05/20/1996 (QCD 148/204). A recorded instrument purports to convey or claim the subject minerals, but no interest of record supports it; it does not divest the record owners. Carried as an adverse or successor claim of record.
Dorothy Pemberton Hale to Hollowmere Minerals, Ltd. 05/20/1996 (QCD 148/207). A recorded instrument purports to convey or claim the subject minerals, but no interest of record supports it; it does not divest the record owners. Carried as an adverse or successor claim of record.
The Brimacombe Family Trust to Hollowmere Minerals, Ltd. 06/03/1996 (QCD 148/210). A recorded instrument purports to convey or claim the subject minerals, but no interest of record supports it; it does not divest the record owners. Carried as an adverse or successor claim of record.
Wanda Castellow Reece to Hollowmere Minerals, Ltd. 06/03/1996 (QCD 148/213). A recorded instrument purports to convey or claim the subject minerals, but no interest of record supports it; it does not divest the record owners. Carried as an adverse or successor claim of record.
J. F. Castellow to Hollowmere Minerals, Ltd. 06/17/1996 (QCD 148/216). A recorded instrument purports to convey or claim the subject minerals, but no interest of record supports it; it does not divest the record owners. Carried as an adverse or successor claim of record.
Heirs of A. L. Penwarden, by their attorney-in-fact to Villeroy Land Company 08/14/1998 (QCD 162/301). A recorded instrument purports to convey or claim the subject minerals, but no interest of record supports it; it does not divest the record owners. Carried as an adverse or successor claim of record.
Charles H. Penwarden, Jr. to Villeroy Land Company 08/14/1998 (QCD 162/304). A recorded instrument purports to convey or claim the subject minerals, but no interest of record supports it; it does not divest the record owners. Carried as an adverse or successor claim of record.
The Penwarden Family Mineral Trust to Villeroy Land Company 08/14/1998 (QCD 162/307). A recorded instrument purports to convey or claim the subject minerals, but no interest of record supports it; it does not divest the record owners. Carried as an adverse or successor claim of record.
Ardella Penwarden Pymm Estate to Villeroy Land Company 08/14/1998 (QCD 162/310). A recorded instrument purports to convey or claim the subject minerals, but no interest of record supports it; it does not divest the record owners. Carried as an adverse or successor claim of record.
Oleta Kettleby Descendants' Partnership to Villeroy Land Company 08/14/1998 (QCD 162/313). A recorded instrument purports to convey or claim the subject minerals, but no interest of record supports it; it does not divest the record owners. Carried as an adverse or successor claim of record.
Nettie Varcoe Revocable Trust to Villeroy Land Company 08/14/1998 (QCD 162/316). A recorded instrument purports to convey or claim the subject minerals, but no interest of record supports it; it does not divest the record owners. Carried as an adverse or successor claim of record.
Walter Penwarden, II to Villeroy Land Company 08/14/1998 (QCD 162/319). A recorded instrument purports to convey or claim the subject minerals, but no interest of record supports it; it does not divest the record owners. Carried as an adverse or successor claim of record.
Verlin Ashmead Family, LLC to Villeroy Land Company 08/14/1998 (QCD 162/322). A recorded instrument purports to convey or claim the subject minerals, but no interest of record supports it; it does not divest the record owners. Carried as an adverse or successor claim of record.
8. LEASEHOLD STATUS OF RECORD
Lease No. 1 (OGL 12/318), Thornton Heirs (Ada Thornton Pike; Bertram Thornton) to Pellmoor Petroleum Co., expired by its own terms at the end of its primary term, no production having been obtained under it; there is a release of record. It does not burden the present tabulation.
Lease No. 2 (OGL 18/402), M.E. Castellow to Pellmoor Petroleum Co., expired by its own terms at the end of its primary term, no production having been obtained under it; there is a release of record. It does not burden the present tabulation.
Lease No. 3 (OGL 31/077), Villeroy Land Company to Bitterlake Operating Company, expired by its own terms at the end of its primary term, no production having been obtained under it; there is NO release of record — see Record Advisories. It does not burden the present tabulation.
Lease No. 4 (OGL 44/291), Hollis P. Aldecott to Bitterlake Operating Company, is held by production (first production from the lands 1977; since 02/19/2020 through the Larkmoor 14 Unit, MISC 203/88) and is now owned of record as follows: Larkmoor Resources Inc. 100.00000000%. Record chain: Oil & Gas Lease at OGL 44/291; Assignment at ASG 88/101; Assignment at ASG 141/377. The leasehold is burdened by the Quillmoor nonparticipating royalty (RD 18/77; four holders of record per ASG 214/77).
Lease No. 5 (OGL 44/292), Miriam Redfield Aldecott to Bitterlake Operating Company, expired by its own terms at the end of its primary term, no production having been obtained under it; there is a release of record at REL 49/301. It does not burden the present tabulation.
Lease No. 6 (OGL 44/318), Estelle Aldecott Nunn to Bitterlake Operating Company, expired by its own terms at the end of its primary term, no production having been obtained under it; there is a release of record. It does not burden the present tabulation.
Lease No. 7 (OGL 61/145), Cora Redfield Halvorsen to Cordwood Energy Partners, expired by its own terms at the end of its primary term, no production having been obtained under it; there is a release of record. It does not burden the present tabulation.
Lease No. 8 (OGL 61/146), Beatrix Thornton Tressilian to Cordwood Energy Partners, expired by its own terms at the end of its primary term, no production having been obtained under it; there is a release of record. It does not burden the present tabulation.
Lease No. 9 (OGL 88/503), Villeroy Land Company to Cordwood Energy Partners, is held by production (first production from the lands 1977; since 02/19/2020 through the Larkmoor 14 Unit, MISC 203/88) and is now owned of record as follows: Larkmoor Resources Inc. 100.00000000%. Record chain: Oil & Gas Lease at OGL 88/503; Assignment at ASG 141/378. The leasehold is burdened by the Quillmoor nonparticipating royalty (RD 18/77; four holders of record per ASG 214/77) and an overriding royalty of 3.00000000% in favor of Cordwood Energy Partners.
Lease No. 10 (OGL 88/504), Marisol Vance to Cordwood Energy Partners, is held by production (first production from the lands 1977; since 02/19/2020 through the Larkmoor 14 Unit, MISC 203/88) and is now owned of record as follows: Larkmoor Resources Inc. 100.00000000%. Record chain: Oil & Gas Lease at OGL 88/504; Assignment at ASG 141/379. The leasehold is burdened by an overriding royalty of 3.00000000% in favor of Cordwood Energy Partners.
Lease No. 11 (OGL 141/220), Hollowmere Minerals, Ltd. to Larkmoor Resources Inc., is held by production (first production from the lands 1977; since 02/19/2020 through the Larkmoor 14 Unit, MISC 203/88) and is now owned of record as follows: Larkmoor Resources Inc. 70.00000000%; Bitterlake Operating Company 10.00000000%; Cordwood Energy Partners 10.00000000%; Wrenhollow Petroleum LLC 10.00000000%. Record chain: Oil & Gas Lease at OGL 141/220; Assignment at ASG 152/88. The leasehold is burdened by the Quillmoor nonparticipating royalty (RD 18/77; four holders of record per ASG 214/77).
Lease No. 12 (OGL 141/221), The Halvorsen 2004 Trust to Larkmoor Resources Inc., is held by production (first production from the lands 1977; since 02/19/2020 through the Larkmoor 14 Unit, MISC 203/88) and is now owned of record as follows: Larkmoor Resources Inc. 100.00000000%. Record chain: Oil & Gas Lease at OGL 141/221. The leasehold is burdened by the Quillmoor nonparticipating royalty (RD 18/77; four holders of record per ASG 214/77).
Lease No. 13 (OGL 199/612), Aldecott Family Trust to Larkmoor Resources Inc., is held by production (first production from the lands 1977; since 02/19/2020 through the Larkmoor 14 Unit, MISC 203/88) and is now owned of record as follows: Larkmoor Resources Inc. 100.00000000%. Record chain: Oil & Gas Lease at OGL 199/612. The leasehold is burdened by the Quillmoor nonparticipating royalty (RD 18/77; four holders of record per ASG 214/77).
Lease No. 14 (OGL 199/613), Estelle Aldecott Nunn; Castellow Mineral Group, LLC to Larkmoor Resources Inc., is held by production (first production from the lands 1977; since 02/19/2020 through the Larkmoor 14 Unit, MISC 203/88) and is now owned of record as follows: Larkmoor Resources Inc. 100.00000000%. Record chain: Oil & Gas Lease at OGL 199/613; Assignment of ORRI at ASG 205/144. The leasehold is burdened by the Quillmoor nonparticipating royalty (RD 18/77; four holders of record per ASG 214/77) as to the interest of Estelle Aldecott Nunn only and an overriding royalty of 2.00000000% in favor of Pellridge Overrides LLC.
9. GENERAL NOTES
Mineral percentages are carried to eight decimal places; Net Revenue Interests are stated as eight-decimal DECIMAL interests in unit production, the division-order convention. Subtotals are computed from unrounded row values and may differ from the sum of the displayed rows in the eighth decimal place.
This report states who is entitled to production revenue from the tract. It does not calculate payment and it is not a division order.
Lease status is derived from the record read together with the production history of the unit; it is not a legal determination that any lease remains in force.
The search covers the official records of the Eddy County Clerk's Office and the Clerk of the Fifth Judicial District Court from inception through the record date. Instruments indexed after the record date, unrecorded instruments, and matters not of record (including unrecorded operating agreements and division orders held by the parties) are outside the scope of this report.
Reliance was placed on the county's grantor-grantee and tract indices as maintained by the Clerk. An instrument misindexed by the Clerk may not appear in this report; the runsheet lists every instrument identified and relied upon.
Unreleased instruments that expired by their own terms are tabulated as expired and noted in the Record Advisories; they are not treated as clouds unless an adverse claim of record depends on them.
COMPILATION STATEMENT
This Revenue Interest Report was compiled by Archive Ledger, Inc. from a search of the official records of the Eddy County Clerk's Office and the Clerk of the Fifth Judicial District Court for Eddy County, New Mexico, from inception of the records through 06/22/2026. This report was generated by the Archive Title Examination System and reflects the instruments of public record affecting the subject lands as of the record date stated above. Mineral ownership is developed in the Title Notes from the original government patent; leases, assignments and burdens are set out in the Lease Schedule and the runsheet, and every instrument relied upon is listed in the runsheet under its recording reference. Examination was limited to those recorded instruments; no probate court files, district court case files, NMOCD, BLM/GLO, or State Land Office records were examined except as expressly noted.
Records examined:
- Eddy County Clerk — grantor/grantee and tract indices, inception through 06/22/2026
- Clerk of the Fifth Judicial District Court, Eddy County — judgment and cause indices as cited
- Production history of the Larkmoor 14 Unit, as reflected of record
Not examined:
- Probate court files not of record with the County Clerk
- NMOCD, BLM/GLO, and State Land Office records except as expressly noted
- Unrecorded instruments, operating agreements, and division orders held by the parties
DISCLAIMER: This report is supplied without warranty, either express or implied. This is not a title opinion and does not constitute legal advice.
Common questions
- What is a revenue interest report?
- It states who is entitled to production revenue from a tract, and in what share. Starting from the mineral ownership, it applies each owner's lease, the royalty that lease reserves, and every burden carved out of it — non-participating royalties, overriding royalties — and expresses the result as a Net Revenue Interest in the producing unit. It is the research a division-order title opinion is built on.
- What is a Tract Factor, and why does every number depend on it?
- Production is paid on the unit, not on the tract. The Tract Factor is the tract's acreage divided by the unit's — a 40-acre tract in a 160-acre unit has a Tract Factor of 0.25. Every interest in the report is multiplied by it, which is why the report states it once, on its own, and why a later revision to the unit changes every figure proportionally.
- Why do the sections have to total the Tract Factor?
- Because that identity is the report's own proof. Royalty, non-participating royalty, overriding royalty, working interest, and unleased interest together account for one hundred percent of the tract's production. If they sum to anything other than the Tract Factor, an interest has been missed, double-counted, or mis-stated — and the report says so before anyone relies on it.
- What is the difference between an NPRI and an overriding royalty?
- Both are royalties, but they come out of different pockets. A non-participating royalty is carved out of the MINERAL estate — usually reserved in an old deed — so it reduces the lessor's royalty and survives the lease that happens to be in force. An overriding royalty is carved out of the LEASEHOLD by assignment, so it reduces the working interest and dies with the lease it burdens.
- What happens to a mineral owner who never signed a lease?
- They are shown as an unleased interest. An unleased cotenant is not bound by anyone else's lease and takes their share of production net of the cost of developing it. Unleased interests are the ones an operator most needs to find before proposing a well, which is why they are broken out rather than folded into a subtotal.
- Is this a division order?
- No. A division order is the instrument an operator issues to authorize payment. This is the title research that establishes what the shares are — it does not calculate a payment, direct one, or bind anyone to accept one.
- How is this different from a title opinion?
- An Archive report is a research product compiled from public records. It is not a title opinion, a title commitment, title insurance, or a certified abstract, and it is not legal advice. A title opinion is a lawyer's professional judgment about who owns a tract and what defects encumber it, and only a licensed attorney can render one. Archive researches and assembles the record on which such a judgment is made, and expects you to have it reviewed before you rely on it.
- Is the data on this page real?
- No. The parties, leases, instruments, and the unit itself are fictional and are used to illustrate the format and depth of a real package. A real Archive report is built from actual recorded county records.