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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: 368
Latest Activity: on Monday

Discussion Forum

Mineral lease in Dunn County

Started by Deborah Shaffer. Last reply by M Barnes Aug 17. 3 Replies

My family has been leasing our mineral rights in Dunn county for many years. This year the lease is up and Oxyusa has not renewed. No notification they do not answer my inquiries, nothing. I believe…Continue

Looking for Mineral Rights to Lease

Started by Scott Varner. Last reply by MFMB Jul 7. 7 Replies

I am currently seeking landowners and mineral owners to lease from... Anything from 2-3 sections and up to 15-25 sections....Continue

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Comment by M Barnes on Monday

Also, be cautious of lowball offers to buy.  Now is not a good time to sell.

Comment by charles s mallory on Monday

I agree with M Barnes.  Current prices/state of industry = sit back and wait.  Don't be fooled by early lessees when the market begins to recover.  Lots will be out to get a bargin.

Comment by M Barnes on August 24, 2015 at 8:42am

William,

Given the current pricing situation and the state of the industry, I think the chances of leasing might be pretty low for a while.  Also, the nearest wells to you did not have particularly great returns. 

Comment by William H Hasskamp on August 23, 2015 at 8:03pm

Our lease for W2, Sect17, 158N, 97 W with Continental will expire in September.  What expectations should we have about a renewal with Continental or that another company will want to lease.  What kind of terms might we get?

Comment by Jordan Mendoza on August 6, 2015 at 4:28pm
Thanks Charles and Terri!
Comment by Terri Lea on August 6, 2015 at 4:12pm

Jordan:

my land was Native American Land also. We had a lease supposedly for 5 years but it was revoked after a year.  So things don't look good.

Comment by charles s mallory on August 6, 2015 at 1:15pm

Jordan:

Be very cautious in negotiating a new lease since the market is down and it is unlikely that you will be able to strike a lease which favors the interests of the mineral owner (yourself).  Most likely, the lessor will attempt to lowball you on the bonus and negotiate for a long term lease (5 yrs.).  I would be very careful and possibly consult with someone before signing on the dotted line.  At lease when the market begins to recover (whenever that time is), you will be able to negotiate a lease which will be more favorable on your behalf.  Good luck!!

Comment by Jordan Mendoza on August 6, 2015 at 8:57am
My brothers and I have a lease (Native American land) that expires this month with Samson Resources. I don't don't believe they are going to renew. This is the first time since inheriting the land we are going through an expiration. Based on the oil prices, should we just sit on it until the market changes for the better? We have 120 acres in Roossevelt County, surface and mineral. Thanks!
Comment by Terri Lea on August 6, 2015 at 8:49am

  So maybe it was a good thing my lease was revoked ??

Comment by Tom McLarnan on August 5, 2015 at 8:26pm
M Barnes, Thank you for your response. I appreciate your help.
Tom
 

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