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Step 4: Add Wells/Leases
The final set up step is to add your Wells and or Leases.
Click the New button on the Well List page to add a new Well.
Enter the Well or Lease name, then choose the operator from the drop-down.
Next choose the type such as well or lease, then the status, county, and state.
Then choose the property and field, if any, from the drop downs.
Now enter the interest you have in this well. If it is a working interest well, enter the working interest and then the net revenue interest. If it is a royalty interest just enter the royalty interest amount.
The Recording Info section is where you can keep track of where the well is recorded at the county. You can also keep track of when the interest was acquired and from whom.
Then enter the spud date and completion date.
The import codes are how Well Profits maps its wells to the property numbers in the import files.
Enter the operator and purchaser property numbers for this well. Then you can enter any notes for this well.
Lastly, enter the legal description for the well and if you want to see the well on the dashboard map, enter the well’s latitude and longitude.
To save the well record click on the Save Changes button.
Once saved, it will show you the newly entered record. To add a new well, click the New button on the Well Information page.