Joel Brown, MineralTracker.com, grew up in Watford City, North Dakota, and describes some of the changes that have happened since his childhood. Brown recalls sweeping floors and working other duties around his grandfather’s oilfield service shop as a child.
Brown talks about an evaluation study MineralTracker has been commissioned by the state of North Dakota for all 2.6 million acres of state-owned minerals. As of right now those minerals do not have a valuation, Brown said the study should be finished by July 2020.
The study will look at each of the wells already producing royalties for the state and consider future production and revenue that could come from each well as part of its valuation. Wells tend to produce the most oil the first year after they are drilled, with a declining following.
MineralTracker.com is a management software that can organize, audit, and track income for royalty interests. It also allows mineral owners to compare actual royalty payments to expected payments based on well performance and a proprietary and Bakken-specific reservoir model built by MineralTracker’s petroleum engineers.
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