Field definitions of LOD

Column NameExplaination
KEYUnique internal Id assigned to each record.
*OWNER IDSubindex of unique owner id occasionally blank.
OWNEROwner of Oil and Gas property.
ADDRESS1First line of owner’s mailing address.
ADDRESS2Second line of owners’ mailing address.
*ADDRESS3Third line of owner’s mailing address.
*ADDRESS4Fourth line of owner’s mailing address.
CITYCity of owner’s mailing address.
STATEState of owner’s mailing address.
ZIPZip code of owner’s mailing address. The 4+ zip may be included.
WELLName of the Lease/Well that the owner holds interest in.
*YEARBEGANThis column is populated by what year the lease began production.
*RRC_IDThis is the Rail Road Commission id number assigned to the lease.
OPERATORThe entity that controls and manages well operations. The operator also has the responsibility for adhering to state rules and regulations.
*FIELDThe area of production that has at lease one common reservoir.
*ZONEThe geological reservoir that the oil or gas is produced from.
*SURVEYThis is the default field where you will find most of the legal land description for the lease.
*ABSTRACTThis is a land description. It is part of the survey information for the location of the well.
*BLOCKThis is a land description. It is part of the survey information for the location of the well.
*SECTIONThis is a land description. It is part of the survey information for the location of the well.
*EXTRA DESCRIPTIONField where miscellaneous land description is placed.
*ACRESCommon unit of land measure. The acres listed in the field refer to the total amount of acres in the lease for the record.
TYPEThe type of ownership of property. RI is for people who own the minerals under the land. WI is for the investors who leased the rights to drill from the RI people. OR is for people who receive payments for technical services rendered to the WI people. ie. Geologists
INTERESTPercent of ownership of the oil well revenues. (Net revenue interest)
VALUEThe county’s appraised value of the owner’s mineral interest in the oil or gas well. In US$. We believe this is computed by the local county based on proved producing cash flow.
YEARYear the data was published by the county.
COUNTYCounty location of the oil or gas mineral.
*APPRASAL IDRandom internal id assigned by the county to their leases for identification purposes aside from the standardized ids such as RRC Id.
*SEARCHNXIs for the parcel/geo id.
*BIDAMOUNTThis field is blank and left for use by the client.
ADD/DATEDate added into the Blackbeard Data’s database.
LEASE STATEThe federal state code for the state listed. i.e. 42=Texas.
*MATCHING_ RRC_GRADEWe run an algorithm for matching up RRC lease names with Tax Roll lease name and this grades the accuracy of the match. Generally 75/100 is good. Over 100+ is solid match.
*MATCHING RRC_IDThis is the RRC lease number as by our algorithm that matches RRC lease names to tax lease names.
*API_255_CHARNumber assigned by the American Petroleum Institute to each individual well. Can have up to 14 digits. The first two digits of the API number is the state code. The second three numbers are the County Code, followed by the Unique Well Identifier, Directional Sidetrack Code and ending with the Event Sequence Code. BBD will only add a well or two into this field
*latLatitude of Location of Well
*lonLongitude of Location of Well
*Class_typeField identifies the record type. C=Corporations, E-Educational Institutions, I=Individuals, G=Governmental Bodies, T-Trusts, N=Non Profits
++++++++++++++++++++++++++++++++++++++++++++++++++Fields below are only available with the LOD VALUE INSIGHTS add-on product.
VALUE_AOPThis is a secondary valuation of the owners interest. Using the county’s original valuation, we adjust for current conditions, production, and price of oil in the current month. Simple modeling and best efforts. In US$
WELLS_IN_LEASECount of all the wells associated with the lease.
BBD_ACRESThis is the best efforts to report the size of the lease. As some leases are reported to us from the county without area, we have to do external research and report the best known acreage.
ACRES_PER_WELLRatio of lease-acres per well to indicate if a lease has potential upside for in-fill drilling.
LEASE_BOE_RESERVESUsing decline curve analysis from our OFIA software, we compute the BOE (18:1 ratio) reserves for the lease. In Barrels.
NET_BOE_RESERVESTaking the LEASE_BOE_RESERVES and multiply by INTEREST to get the NET BOE Reserves for the mineral interest. ie. If LEASE_BOE_RESERVES = 20,000 and INTEREST=0.10 then NET_BOE_RESERVES= 20000*0.1 = 2000
VALUE_RESERVESValuation in US$ based on our decline curve net reserves for the mineral interest. This is the NET_BOE_RESERVES * (Current WTI oil price) * (1/3) We use the time honored valuation tradition of assigning 1 BOE in the ground at 1/3 the price of a Barrel at the surface
VALUE_BBD_BESTValuation in US$, ensembled from the other Valuation method listed. This represents our best guess at true value.

* Indicates these fields may often be blank in some counties.
Note: API Numbers, Lat/Long and Class Types are only available with the CD product

LOD Value Insights are a value add-on to LOD, and are not included with it. All valuations are best efforts and should be corroborated with proper due diligence and engineering analysis.