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Burke County, ND - Oil & Gas Discussion

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Burke County, ND - Oil & Gas Discussion

Oil & gas discussion group for those interested in Burke County, ND. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.

 

Members: 97
Latest Activity: Apr 27

Discussion Forum

162-94-16

Started by John Murray Apr 19. 0 Replies

Is anyone aware of new leasing activity for the area around 162-94-16 in Burke County? If so, what are the terms offered for 10 acres or so?

Question about first division order for non-participating owner

Started by Eric Melby. Last reply by Eric Melby Apr 28, 2015. 1 Reply

Hello everyone,It's been a while since I posted a question here, mainly because the information I got before was so helpful I didn't have any more questions.I am wondering if anyone is experienced…Continue

Oasis plans to stop drilling in the Cottonwood Field as of the end of March 2015

Started by Duane E Paulson. Last reply by Duane E Paulson Mar 13, 2015. 2 Replies

Oasis announced today they will reduce their rig count from 16 to 10 by 1/31/15 and to 6 by 3/31/15.  The 6 rigs will all drill in the Indian Hills field during 2015 or until prices increase and…Continue

162N 91W lease offer

Started by Casey. Last reply by Casey Dec 27, 2014. 3 Replies

I got offered 250 an acre 1/6 at 3yrs with petro harvester.Can any give me any info if its a good deal or should i wait. Appreciate any input. ThanksContinue

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Comment by John Murray on April 27, 2017 at 9:44am
Is anyone aware of new leasing activity for the area around 162-94-16 in Burke County? If so, what are the terms offered for 10 acres or so?
I understand that Diamond/Continental may be interested in this area, but I would prefer to shop the lease to another company.
Comment by Gary D Preszler on March 17, 2017 at 4:49pm

Mary Beth,

Acqyre is Liberty Resources, Denver.

Comment by Mary Beth on March 17, 2017 at 1:50pm

So leases are being filed for all around my mineral interests.  A lot are from Diamond Resources who has now transferred the leases to Spear Energy, LLC in Bottineau, ND.  Has anyone heard of Spear Energy??  Oil company, investor?  Google search only comes up with a solar energy company with a name close to that.   I did not lease with them. Looks like many were signed for 15% or 16.67%. for 5 years.    HRC has a bunch of leases in the same areas, but I don't know their lease particulars. 

Comment by Mary Beth on March 10, 2017 at 11:07am

Hi AD,  I'm wondering who Acqyre is representing?   Are they an oil company or an investment company? 

I was trying to figure out the areas that are being leased and I think they are mainly the Cottonwood area- over and into the Noble area.  I saw that 160N94W is the North Tioga area, right? 

Comment by AD on March 9, 2017 at 10:42am
Dianne,

We signed with Acqyre. As to the location we are 160N Range 94.
Comment by r w kennedy on March 9, 2017 at 12:59am

If you shake hands with Diamond Resources, in my opinion you should count your fingers afterwards. I say this from 7 years acquaintance. If Diamond Resources should contact you? Retain a lawyers services immediately!

Comment by John Murray on March 8, 2017 at 10:01pm
My overall experience with Diamond Resources is that a lot become title problems shortly after successful drilling and that the royalies stop. I refuse to talk to them anymore.
Comment by Dianne E Arnold on March 8, 2017 at 9:40pm

AD, Did you sign with HRC or someone else? Where in Burke are these acres? Mine are in the eastern Dimond (I think) - about 160 net acres. I've been told that the package is coming so I haven't had a chance to read the lease yet.

Comment by AD on March 8, 2017 at 7:59pm
We just signed in Burke at 1/5 on 180 net acres , 5 year term with 3 year extension option, at $500/acre. This offer came in two weeks ago and we negotiated up on first offer.
Comment by Mary Beth on March 6, 2017 at 1:46am

Here is a question.  Some leases in ND are signed at a 1/6 royalty interest rate, some 3/16ths, rarely 20%.  Is it correct that in Texas 20-25% is the norm?  Why are the royalty interest rates offered lower in North Dakota?  Why did I read that if you have too high an interest rate there would be more deductions?

Shale Oil made front page news in my local newspaper- that business is picking up again.   And thank-you Dianne Arnold for giving some info about HRC/Halcon offers. 

 

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