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re: Anyone ever buy an oil field or buy interest in an oil field?
Posted on 8/16/14 at 12:21 am to TJG210
Posted on 8/16/14 at 12:21 am to TJG210
quote:
Out of curiosity, how do you monetize the oil? Do you contract with a company to buy it from you and they pick it up every so often?
There are purchaser/gatherers that pick up the oil for a fee. Sunoco and shell are common gulf coast onshore purchasers. It's not a big deal to sell your production.
Another thing I failed to mention above is the accounting side. You have to be able to account for your rev then distribute to your lessors, other royalty and overriding royalty owners every month for the trailing 90 days at minimum.
Posted on 8/17/14 at 7:10 pm to cwill
quote:
Another thing I failed to mention above is the accounting side. You have to be able to account for your rev then distribute to your lessors, other royalty and overriding royalty owners every month for the trailing 90 days at minimum.
E&P Accounting....
Listen to cwill. If you want to invest in O&G, go by some E&P stock.
For every story you here of someone getting lucky there are hundreds of people losing everything.
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