PREVIOUS MINERALS NEWS HEADLINES
4th Quarter, 2008 Newsletter
Osage Shareholders:
Payment for the fourth quarter (December 2008) will be another record of $11,600.00 per headright! Your payment was based on total revenue of $25,858,984.00 for the third quarter production and collections. ($25,858,984.00 divided by 2,228.97393 headrights equals $11,600.00, rounded back to the nearest $5.00).
The Minerals Council would like to advise all shareholders that the March 2009 payment will be down, due to the price of oil during the fourth quarter of 2008.
The following are amounts broken out to show major details of the $25,858,984.00.
Oil and Tank Bottoms production for the second quarter was 1,123,271.39 gross barrels or 177,937.51 royalty barrels with revenue of $21,053,450.42. The average price per barrel of oil was $118.32.
Gas production for the third quarter was:
3,228,172 gross M.C.F. or 565,333.63 royalty M.C.F. and 1,204,629 gallons. Total gas revenue for second quarter was $4,558,199.70.
Sand and Gravel royalty for third quarter was $61,010.08.
Oil & Gas Bonuses collected for third quarter was $1,317,515.00.
Interest earned for third quarter was $111,613.00.
Gross Production Tax to be paid to the State of Oklahoma for third quarter production is $1,280,582.51.
Miscellaneous revenue for third quarter was $37,788.31.
Sincerely,
John Mashunkashey, Chairman
Osage Minerals Council
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3rd Quarter, 2008 Newsletter
Osage Shareholders:
Payment for the third quarter (September 2008) will be a record of $11,245.00 per headright! Your payment was based on total revenue of $25,070,911.00 for the second quarter production and collections. ($25,070,911.00 divided by 2,228.97393 headrights equals $11,245.00, rounded back to the nearest $5.00).
The following are amounts broken out to show major details of the $25,070,911.00.
Oil and Tank Bottoms production for the second quarter was 1,109,277.81 gross barrels or 174,031.98 royalty barrels with oil revenue of $21,475,868.00. The average price per barrel of oil was $123.40.
Gas production for the second quarter was:
3,124,485 gross M.C.F. or 547,134.09 royalty M.C.F. and 1,170,489 gallons. Total gas revenue for second quarter was $4,375,105.09.
Sand and Gravel royalty for second quarter was $63,592.33.
Oil & Gas Bonuses collected for second quarter was $472,552.00.
Interest earned for second quarter was $146,001.00.
Gross Production Tax to be paid to the State of Oklahoma for second quarter production is $1,292,548.65.
Budget drawdown for C-395 operating expenses for second half of 2008 was $200,000.00.
Miscellaneous revenue for second quarter was $30,341.20.
Sincerely,
John Mashunkashey, Chairman
Osage Minerals Council
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2nd Quarter, 2008 Newsletter
To Osage Shareholders:
The June, 2008 payment, $8,955.00, per headright.
Up $625.00 from 1st Quarter's payment.
The payment should have been received on or before June 15, 2008.
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1st Quarter, 2008 Newsletter
February 15, 2008
Osage Shareholders
Council Member John Mashunkashey announced first quarter 2008 payment at the Osage Minerals Council Meeting February 15.
Payment for the first Quarter (March 2008 Payment) will be $8,330.00 per headright. Your payment was based on total revenue of $18,577,091.00 for the fourth quarter production and collections. ($18,577,091.00÷ 2,228.97393 headrights = $8,330.00 rounded back to the nearest $5.00)
The following are amounts broken out to show major details of the $18,577,091.00
Oil and Tank Bottom production for the fourth quarter was: 1,115,060.29 gross barrels or 175,261.12 royalty barrels with Oil revenue of $15,797,311.74. The average price per barrel of oil was $90.14.
Gas production for the fourth quarter was: 3,060,759 gross M.C.F. or 536,015.44 royalty M.C.F. and 322,129 gallons. Total gas revenue for fourth quarter is $2,792,322.17.
Interest earned for fourth quarter was $122,060.00.
Gross Production Tax to be paid to the State of Oklahoma for the fourth quarter production is $929,481.70.
Budget drawdown for C-395 operating expenses for first quarter 2008 is $250,000.00.
Sincerely,
Jewell Purcell,
Chairperson, Osage Minerals Council