Short Answer
Expect an AFE that details capital, a Joint Operating Agreement that governs project decisions, and ongoing statements covering volumes, prices, and LOE. Tax reporting is delivered annually.
What It Means to an Investor
The JOA sets voting, cash calls, insurance, audits, and non‑consent. Monthly statements show production volumes, realized prices, severance taxes, LOE, and your net. Annual K‑1s reflect IDCs, depreciation, and depletion. Keep basis roll‑forwards.
