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Bakken Shale - Oil & Gas Discussion

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Bakken Shale - Oil & Gas Discussion

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

Members: 361
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Discussion Forum

Lease Expiring Soon, Mountrail Co

Started by Garren Hartman Mar 2. 0 Replies

My family & I own mineral acres in Mountrail County. A portion of our ownership has been drilled but a portion has not and our current lease expires May 3rd in Section 20, T158N, R94W. Interested…Continue

Keywords: Mountrail, Lease

Party at the pump by By Kevin Robinson-Avila / Journal Staff Writer

Started by John Hawk. Last reply by Dctex99 Jan 20. 1 Reply

Party at the pump by By Kevin Robinson-Avila / Journal Staff WriterCopyright © 2015 Albuquerque JournalFor the complete…Continue

Keywords: Politics, News, NewMexicoCenterforEnergyPolicy, DanielFine, Oilprice

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Comment by Glen Gierke on June 17, 2015 at 2:19pm

Ron, if only it were that simple. If you are attempting to buy in somewhere, there is no promise that it will ever be drilled. They will always go for the low hanging fruit where they know almost certainly they will find oil because they do studies. Owning land doesn't provide you anything unless you also own the mineral rights. In my case, the land actually belongs to someone else but we have the mineral rights. If you are trying to buy in somewhere, it will be very high stakes that you ever get anything from it. There are pages and pages of studies that has to be done if they drill and every I has to be dotted and T's crossed. I wouldn't even bother if mine wasn't handed down in the family already. This is not a get rich quick scheme.

Comment by M Barnes on June 17, 2015 at 2:05pm

Completely different! 

Anyone considering doing such a venture had better have a really good oil & gas accountant, a good oil & gas attorney and a very educated concept of the risks (very high) and potential returns (possible).  A good working knowledge of the oil industry and finance is critical.  This is not for the faint of heart or for amateurs.  Please educate yourself completely before diving into something like this.  There are plenty of scammers out there and also good companies, too.  Get informed.  Be sure you have the money to lose. 

Comment by Ron Pearson on June 17, 2015 at 1:13pm

So if someone buys into a venture isent that different than directly buying the land?  Either the venture goes forward and flows oil and everyone makes money, they drill all dry holes and everyone looses or they give your money back?

Comment by Terri Lea on June 17, 2015 at 7:18am

sorry thats suppose to say I had a lease for less then a year

Comment by Terri Lea on June 17, 2015 at 7:17am

I had for less then a year, the company ended up revoking it.  When I called and asked why they gave a few reasons, one the well next to ours was dry, and the oil prices are low and thirdly its on indian land and they did not want to pay the BIA every year to hold the lease.  They said maybe someone else will want to lease it.  What are the odds of that ??

Comment by Glen Gierke on June 16, 2015 at 10:21pm

I would advise to spent plenty of time to educate yourself in exactly what you want to get into. I inherited my minerals rights and have even leased them only to sit on it until they decide whether or not they even want to spend the money on drilling. Which brings up another subject. In my case, they drilled a well which according to all reports, was on our land but when I called the driller, they denied it was on our property so say they won't pay anything. The drilling had many issues with staying on the horizontal plane. It ended up a failure after pumping several hundreds of barrels but my lease says I get a portion from the wellhead. Is there an avenue to pursue? This was last year or so ago....

Comment by Ron Pearson on June 16, 2015 at 4:51pm

That sounds like a good idea, everyone has to start somewhere, even Rockefeller did lol.  Thank you for the references I will definitely follow up with these.  The key thing is I want to make money off the meter (even if its only 5% or less) rather than off stock price changes or some other sketchy derivative or bundled asset.  The meter never stops unless the well goes dry (and that's just the risk of it).  Even at 50$ oil you are still making money just not as much.  And if you can buy into a grouping of wells where you can make money off the meter that's even better.

Comment by Bart Barton on June 16, 2015 at 4:34pm

Ron, that ain't happening.  But what you could do is buy into a deal on Energynet for low 5 figures.  Get it cheap now and wait for another oil bull to kick in.  I've seen some smokin' deals.

Comment by Joan M Osland Graffius on June 16, 2015 at 4:30pm

I purchased a private partnership to get aactivity in the Bakken site. The partnership is closed, but they are opening another one. You could contact ny nephew who has a finance business and is a broker for Reef. His business is the Osland Finance Group, located  in Scottsdale AZ. http://www.oslandgroup.com/

Comment by Ron Pearson on June 16, 2015 at 1:03pm

I was thinking a couple of guys could punch a hole for like low 5 figures then figure out how to get it to a tank from there.  What does land with mineral rights cost in proven areas?  If I had 8 million I would just retire right now not be in ND lol.

 

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