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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: 358
Latest Activity: 1 hour ago

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 Cynthia Ward 1 hour ago
Also what does AFE stand for?
Comment by Cynthia Ward 1 hour ago
Thank you Charles....another question I have is what are good terms for leasing per net acre Dawson county, MT township 17 NE range 54-55
Comment by charles s mallory 17 hours ago

Cynthia, 

I too have minerals near the area that you describe.  Mine are leased to Continental at the present time and will be for another three years. To answer your question, your options at the present time with oil prices at near bottom, drilling rigs stacked, investors worried about the longivity of this downturn, I would say to sit and wait till a landman contacts you and make sure that your contact info is current at the County Clerk office.  Good luck and hope it's not too many months until things begin to adjust in our direction.

Comment by Cynthia Ward 17 hours ago
I previously had a lease on my minerals with Petro-Hunt but no lease right now. Was wondering what my options are for leasing? Any help would be appreciated. My minerals are Glendive, MT near Sidney hwy.
Comment by Janie Newborg on December 21, 2013 at 4:27pm

In all of this I have still never been contacted by a landman, however, this is very good advice and I will use it when the time comes.

Thanks again for all you do. 

Merry Christmas to you and yours.

Comment by r w kennedy on December 21, 2013 at 12:31pm

Next time you speak to the landman, just tell him you are considering participating or a farmout deal or selling your AFE to individual who wants to participate. The landman should sit up straight in his chair when he hears that. He probably will not send the AFE right away because if you decide not to lease, the operator makes very little money.

Comment by Janie Newborg on December 21, 2013 at 1:45am

How do I go about making such a request?

Comment by r w kennedy on December 20, 2013 at 8:48pm

Janie, if there is no lease covering your minerals, I would not be in a hurry to sign one. With no lease I would request AFE, participation offers from the operators. The verticle well probably cost around $250,000 to drill or less and the long lateral Bakken well probably less than 8 million and both have long since paid for themselves.

Comment by Janie Newborg on December 20, 2013 at 1:56pm

Thank you so much for the information.

Comment by r w kennedy on December 20, 2013 at 11:18am

Janie, there is an excellent well drilled by XTO 287,620 barrels through October from it's IP date of 6-21-2009, CHARLSON 44-33H. A long lateral Bakken well that you should be sharing in.

The USA YTTREDAHL has produced 151,458 barrels oil through October but only 72 barrels in October, it has slowed considerably since it's IP date of 8-21-1976.

 

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