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Ware, Matthews and Brown signed a lease agreement with MMD, the owner of the mineral rights. MMD received a 1/6 royalty interest. The companies'
Ware, Matthews and Brown signed a lease agreement with MMD, the owner of the mineral rights. MMD received a 1/6 royalty interest. The companies' working interests are 50%, 30%, and 20% respectively. The companies signed an operating agreement designating Ware as the operator of the lease. Assuming revenues of $40,000 and costs of $13,000 the first year of operations, determine how much Brown will receive in revenue in the first year of operations. Use $ and a comma as thousands separator. If the answer is none, write 0
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