Field definitions of LOD
| Column Name | Explaination |
|---|---|
| KEY | Unique internal Id assigned to each record. |
| *OWNER ID | Subindex of unique owner id occasionally blank. |
| OWNER | Owner of Oil and Gas property. |
| ADDRESS1 | First line of owner’s mailing address. |
| ADDRESS2 | Second line of owners’ mailing address. |
| *ADDRESS3 | Third line of owner’s mailing address. |
| *ADDRESS4 | Fourth line of owner’s mailing address. |
| CITY | City of owner’s mailing address. |
| STATE | State of owner’s mailing address. |
| ZIP | Zip code of owner’s mailing address. The 4+ zip may be included. |
| WELL | Name of the Lease/Well that the owner holds interest in. |
| *YEARBEGAN | This column is populated by what year the lease began production. |
| *RRC_ID | This is the Rail Road Commission id number assigned to the lease. |
| OPERATOR | The entity that controls and manages well operations. The operator also has the responsibility for adhering to state rules and regulations. |
| *FIELD | The area of production that has at lease one common reservoir. |
| *ZONE | The geological reservoir that the oil or gas is produced from. |
| *SURVEY | This is the default field where you will find most of the legal land description for the lease. |
| *ABSTRACT | This is a land description. It is part of the survey information for the location of the well. |
| *BLOCK | This is a land description. It is part of the survey information for the location of the well. |
| *SECTION | This is a land description. It is part of the survey information for the location of the well. |
| *EXTRA DESCRIPTION | Field where miscellaneous land description is placed. |
| *ACRES | Common unit of land measure. The acres listed in the field refer to the total amount of acres in the lease for the record. |
| TYPE | The 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 |
| INTEREST | Percent of ownership of the oil well revenues. (Net revenue interest) |
| VALUE | The county’s appraised value of the owner’s mineral interest in the oil or gas well. In US$. We believe this is computed by the local county based on proved producing cash flow. |
| YEAR | Year the data was published by the county. |
| COUNTY | County location of the oil or gas mineral. |
| *APPRASAL ID | Random internal id assigned by the county to their leases for identification purposes aside from the standardized ids such as RRC Id. |
| *SEARCHNX | Is for the parcel/geo id. |
| *BIDAMOUNT | This field is blank and left for use by the client. |
| ADD/DATE | Date added into the Blackbeard Data’s database. |
| LEASE STATE | The federal state code for the state listed. i.e. 42=Texas. |
| *MATCHING_ RRC_GRADE | We run an algorithm for matching up RRC lease names with Tax Roll lease name and this grades the accuracy of the match. Generally 75/100 is good. Over 100+ is solid match. |
| *MATCHING RRC_ID | This is the RRC lease number as by our algorithm that matches RRC lease names to tax lease names. |
| *API_255_CHAR | Number assigned by the American Petroleum Institute to each individual well. Can have up to 14 digits. The first two digits of the API number is the state code. The second three numbers are the County Code, followed by the Unique Well Identifier, Directional Sidetrack Code and ending with the Event Sequence Code. BBD will only add a well or two into this field |
| *lat | Latitude of Location of Well |
| *lon | Longitude of Location of Well |
| *Class_type | Field identifies the record type. C=Corporations, E-Educational Institutions, I=Individuals, G=Governmental Bodies, T-Trusts, N=Non Profits |
| ++++++++++++++++++++++++++++++++++++++++++++++++++ | Fields below are only available with the LOD VALUE INSIGHTS add-on product. |
| VALUE_AOP | This is a secondary valuation of the owners interest. Using the county’s original valuation, we adjust for current conditions, production, and price of oil in the current month. Simple modeling and best efforts. In US$ |
| WELLS_IN_LEASE | Count of all the wells associated with the lease. |
| BBD_ACRES | This 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_WELL | Ratio of lease-acres per well to indicate if a lease has potential upside for in-fill drilling. |
| LEASE_BOE_RESERVES | Using decline curve analysis from our OFIA software, we compute the BOE (18:1 ratio) reserves for the lease. In Barrels. |
| NET_BOE_RESERVES | Taking 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_RESERVES | Valuation 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_BEST | Valuation 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.