Ownership Reversion Overview

This documentation extends the Base Econ Model Documentation.

Properties

Object: ownership

• initialOwnership (required)
  • Type: object
  • Properties:
    • workingInterest (required)
      • Type: number
      • Description: Working Interest
      • Minimum: 0
      • Maximum: 100
    • netProfitInterestType (required)
      • Type: string
      • Description: Net Profit Interest Type
      • Enum: ["expense", "revenue"]
    • netProfitInterest (required)
      • Type: number
      • Description: Net Profit Interest
      • Minimum: 0
      • Maximum: 100
    • netRevenueInterest (required)
      • Type: number
      • Description: Net Revenue Interest
      • Minimum: 0
      • Maximum: 100
    • leaseNetRevenueInterest (required)
      • Type: number
      • Description: Lease Net Revenue Interest
      • Minimum: 0
      • Maximum: 100
    • oilNetRevenueInterest (optional)
      • Type: number, nullable
      • Description: Oil Net Revenue Interest
      • Minimum: 0
      • Maximum: 100
    • gasNetRevenueInterest (optional)
      • Type: number, nullable
      • Description: Gas Net Revenue Interest
      • Minimum: 0
      • Maximum: 100
    • nglNetRevenueInterest (optional)
      • Type: number, nullable
      • Description: Ngl Net Revenue Interest
      • Minimum: 0
      • Maximum: 100
    • dripCondensateNetRevenueInterest (optional)
      • Type: number, nullable
      • Description: Drip Condensate Net Revenue Interest
      • Minimum: 0
      • Maximum: 100
• firstReversion (optional)
  • Type: object
  • Reference: #Reversion Type
• secondReversion (optional)
  • Type: object
  • Reference: #Reversion Type
• thirdReversion (optional)
  • Type: object
  • Reference: #Reversion Type
• fourthReversion (optional)
  • Type: object
  • Reference: #Reversion Type
• fifthReversion (optional)
  • Type: object
  • Reference: #Reversion Type
• sixthReversion (optional)
  • Type: object
  • Reference: #Reversion Type
• seventhReversion (optional)
  • Type: object
  • Reference: #Reversion Type
• eighthReversion (optional)
  • Type: object
  • Reference: #Reversion Type
• ninthReversion (optional)
  • Type: object
  • Reference: #Reversion Type
• tenthReversion (optional)
  • Type: object
  • Reference: #Reversion Type

ReversionType

Object: ReversionType

• reversionType (required)
  • Type: string

This schema defines the structure for a reversion event in the ownership-reversion.json schema. It has the following required properties:

1. reversionType (string): The type of the reversion event. Allowed values include "Date", "AsOf", "WhCumOil", "WhCumGas", "WhCumBoe", "Irr", "PayoutWithInvestment", "PayoutWithoutInvestment", and "UndiscRoi".
2. netProfitInterest (number): The net profit interest, ranging from 0 to 100. It has a default value of 0.
3. workingInterest (number): The working interest, ranging from 0 to 100.
4. balance (string): Specifies whether the balance is "gross" or "net".
5. includeNetProfitInterest (string): Indicates whether to include net profit interest. Allowed values include "yes" and "no".

The schema also includes several optional properties:

• reversionValue (string or number): The value associated with the reversion type. It is required when the reversion type is one of the following: "Irr", "PayoutWithInvestment", "PayoutWithoutInvestment", "UndiscRoi", "AsOf", "Date", "WhCumOil", "WhCumGas", or "WhCumBoe".
• netRevenueInterest (number): The net revenue interest, ranging from 0 to 100.
• leaseNetRevenueInterest (number): The lease net revenue interest, ranging from 0 to 100.
• oilNetRevenueInterest (number, nullable): The oil net revenue interest, ranging from 0 to 100.
• gasNetRevenueInterest (number, nullable): The gas net revenue interest, ranging from 0 to 100.
• nglNetRevenueInterest (number, nullable): The NGL net revenue interest, ranging from 0 to 100.
• dripCondensateNetRevenueInterest (number, nullable): The drip condensate net revenue interest, ranging from 0 to 100.

Depending on the "reversionType" value, different constraints and requirements may apply. For example, when "reversionType" is "AsOf" or "Date", the "reversionValue" property must be a date string in the format "YYYY-MM-DD". For other reversion types, the "reversionValue" property must be a number with specific minimum and maximum values.

Example

"ownership": {
    "initialOwnership": {
        "workingInterest": 12,
        "netProfitInterestType": "revenue",
        "netProfitInterest": 0,
        "netRevenueInterest": 85,
        "leaseNetRevenueInterest": 12.9,
        "oilNetRevenueInterest": 0.25,
        "gasNetRevenueInterest": null,
        "nglNetRevenueInterest": null,
        "dripCondensateNetRevenueInterest": null
    },
    "firstReversion": {
        "reversionType": "Irr",
        "reversionValue": 12,
        "balance": "net",
        "includeNetProfitInterest": "no",
        "workingInterest": 12,
        "netRevenueInterest": 85,
        "leaseNetRevenueInterest": 12.9,
        "netProfitInterest": 5,
        "oilNetRevenueInterest": 0.25,
        "gasNetRevenueInterest": null,
        "nglNetRevenueInterest": null,
        "dripCondensateNetRevenueInterest": null
    },
    "secondReversion": {
        "reversionType": "PayoutWithInvestment",
        "reversionValue": 36,
        "balance": "gross",
        "includeNetProfitInterest": "yes",
        "workingInterest": 12,
        "netRevenueInterest": 85,
        "leaseNetRevenueInterest": 12.9,
        "netProfitInterest": 66,
        "oilNetRevenueInterest": 0.25,
        "gasNetRevenueInterest": null,
        "nglNetRevenueInterest": null,
        "dripCondensateNetRevenueInterest": null
    },
    "thirdReversion": {
        "reversionType": "AsOf",
        "reversionValue": "1970-01-01T00:00:00.000Z",
        "balance": "",
        "includeNetProfitInterest": "",
        "workingInterest": 12,
        "netRevenueInterest": 85,
        "leaseNetRevenueInterest": 12.9,
        "netProfitInterest": 0,
        "oilNetRevenueInterest": 0.25,
        "gasNetRevenueInterest": null,
        "nglNetRevenueInterest": null,
        "dripCondensateNetRevenueInterest": null
    },
    "fourthReversion": {
        "reversionType": "WhCumOil",
        "reversionValue": 23666,
        "balance": "gross",
        "includeNetProfitInterest": "yes",
        "workingInterest": 12,
        "netRevenueInterest": 85,
        "leaseNetRevenueInterest": 12.9,
        "netProfitInterest": 9,
        "oilNetRevenueInterest": 0.25,
        "gasNetRevenueInterest": null,
        "nglNetRevenueInterest": null,
        "dripCondensateNetRevenueInterest": 12
    },
    "fifthReversion": {
        "reversionType": "WhCumGas",
        "reversionValue": 3699,
        "balance": "gross",
        "includeNetProfitInterest": "yes",
        "workingInterest": 12,
        "netRevenueInterest": 85,
        "leaseNetRevenueInterest": 12.9,
        "netProfitInterest": 22,
        "oilNetRevenueInterest": 0.25,
        "gasNetRevenueInterest": null,
        "nglNetRevenueInterest": 0.65,
        "dripCondensateNetRevenueInterest": null
    },
    "sixthReversion": {
        "reversionType": "WhCumBoe",
        "reversionValue": 8754,
        "balance": "gross",
        "includeNetProfitInterest": "yes",
        "workingInterest": 12,
        "netRevenueInterest": 85,
        "leaseNetRevenueInterest": 12.9,
        "netProfitInterest": 99,
        "oilNetRevenueInterest": 0.25,
        "gasNetRevenueInterest": 0.369,
        "nglNetRevenueInterest": null,
        "dripCondensateNetRevenueInterest": null
    },
    "seventhReversion": {
        "reversionType": "PayoutWithoutInvestment",
        "reversionValue": 999.23,
        "balance": "gross",
        "includeNetProfitInterest": "yes",
        "workingInterest": 12,
        "netRevenueInterest": 85,
        "leaseNetRevenueInterest": 12.9,
        "netProfitInterest": 0,
        "oilNetRevenueInterest": 0.25,
        "gasNetRevenueInterest": null,
        "nglNetRevenueInterest": null,
        "dripCondensateNetRevenueInterest": null
    },
    "eighthReversion": {
        "reversionType": "Date",
        "reversionValue": "2023-04-11T00:00:00.000Z",
        "balance": "",
        "includeNetProfitInterest": "",
        "workingInterest": 12,
        "netRevenueInterest": 85,
        "leaseNetRevenueInterest": 12.9,
        "netProfitInterest": 0,
        "oilNetRevenueInterest": 0.25,
        "gasNetRevenueInterest": null,
        "nglNetRevenueInterest": null,
        "dripCondensateNetRevenueInterest": null
    },
    "ninthReversion": {
        "reversionType": "UndiscRoi",
        "reversionValue": 1000,
        "balance": "gross",
        "includeNetProfitInterest": "yes",
        "workingInterest": 12,
        "netRevenueInterest": 85,
        "leaseNetRevenueInterest": 12.9,
        "netProfitInterest": 0,
        "oilNetRevenueInterest": 0.25,
        "gasNetRevenueInterest": null,
        "nglNetRevenueInterest": null,
        "dripCondensateNetRevenueInterest": null
    },
    "tenthReversion": null
}