Charles L Rice

US Patent:

20210209630, Jul 8, 2021

Filed:

Jan 8, 2021

Appl. No.:

17/145277

Inventors:

- San Antonio CA, US
Charles Rice - Austin TX, US
Ed Turpin - San Antonio TX, US

International Classification:

G06Q 30/02
G06Q 40/06
G06F 16/9032
G06F 40/205

Abstract:

A method and system of allocating an interest in mineral rights. The method comprises receiving, in a memory of the server computing device, a set of land tract boundary data and a set of spacing unit boundary data from a plurality of data sources; defining, in a processor of the server computing device, based on standardizing the sets of land tract boundary data and spacing unit boundary data, a land tract polygon and a spacing unit polygon, the land tract and spacing unit polygons representing geo-located areas bounding a land tract and a spacing unit respectively; determining, in the processor, an intersection area defined in common between the land tract polygon and the spacing unit polygon; and allocating the interest in mineral rights based at least partly on the intersection area, an expected royalty rate, and an allocation factor attributable to at least one of a plurality of contributing sources associated with the mineral right.