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Stark County, ND - OIl & Gas Discussion
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Oil & gas discussion group for those interested in Stark County, ND. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
Members: 53
Latest Activity: May 20
Discussion Forum
Stark County Lease offers
Started by Montana A.. Last reply by Roy Pender May 15. 20 Replies 0 Likes
I was offered 3 year a mineral rights lease for $500/acre in Stark County T140 R95. Does anyone have information about leases in this area? Thanks in advance!Continue
TALKINGTON 21-30TFH Stark 140N-99W Whiting royalty checks
Started by Tracey Fry DeBell. Last reply by r w kennedy Apr 25. 3 Replies 0 Likes
any insight for prospects/longevity of this well?is pooled interest of seven common? does that lower income by divider of 7?lease was made Dec 2009. should mineral owners expect any bonuses from…Continue
Southwest drilling activity
Started by jack schlosser. Last reply by jody kuntz Apr 15. 1 Reply 0 Likes
When will drilling activity start to heat up South of the interstate, South of Belfield?Continue
Green River Field, Fidelity Exploration, Parker 29-32h
Started by Donna Goodwin. Last reply by r w kennedy Apr 8. 5 Replies 0 Likes
This well is listed as "confidential" as far as drilling activity goes.Will I be informed if it becomes productive if I have not had my mineral rights probated? Although my sister and I own the…Continue
Comment Wall
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Comment by rockingbiz on May 20, 2012 at 12:25am -
r w kennedy No. She lived in TX. Nothing has been done in ND? Not sure where to even start.
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Comment by r w kennedy on May 9, 2012 at 2:41pm -
Rockingbiz, if the minerals are in ND you have to probate in ND or do ancillary probate there. Was the probate in ND ?
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Comment by rockingbiz on May 9, 2012 at 1:18pm
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I am so glad I found this site as I am totally new to this. I was executor and beneficiary of my aunt's. She was in a nursing home so there was nothing but the mineral rights to 10 acreas. She died while I was out on medical leave so I have never had them transferred to my name and I am now trying to find out what I need to do. I don't have the cash to hire an attorney so I hope I can get some advice here.
Although the Mineral Rights are in N.D., I live in Texas. How much of a problem is this going to be? Can I just do a deed transfer?
I acutally have someone now calling to lease; however, from what I have read on here, I need to check on many things, and find a company that is creditable.
Any advice is appreciated.
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Comment by Roy Pender on February 12, 2012 at 4:19pm
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Send Chesapeake emails and complain to the attorney general.
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Comment by jack schlosser on February 12, 2012 at 10:07am
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Any new new's on drilling South of Belfield? Any activity South interstate? Is there any new's on the potential oil finds South of Belfield?
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Comment by Roy Pender on January 23, 2012 at 1:06am
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According to the basic rule CHK runs the price up then does not honor the offers. Then send in another company to low ball its been there way for some time now. One key factor is to place a clause in your leases. One that voids the lease should it ever be assigned to CHK or any company in which they have a holdings. That will tell you very quickly if they are behind the lease from the beginning.
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Comment by Sheppard Vars on January 22, 2012 at 11:33pm
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Chesapeake (CHK) sold large position of rights in Ohio to a French company at the beginning of 2012 and contracted to drill on their behalf through 2014. It appears that they are following a strategy of consolidating large positions in promising areas, doing enough drilling and surveying to prove potential, and the monetizing their investment through sale of a large rights position. Once they have enough to test the market for a large sale, they pull back. There is nothing wrong with the strategy at that level. It makes sense given their financial position. The problem is the methods they use to acquire a concentration of rights in any given area. CHK appears to manipulate the market and use all contractual loopholes possible to achieve a low cost position only where they find value, abandoning all other leases. Our challenge as leaseholders is twofold: avoid being played by CHK reps, and finding another lessee (all developers require some concentration in an area to achieve scale, so once CHK gets to critical mass, nobody else finds it worth their while to play). Please note that I am fairly new to this scene and the above statements merely represent my personal observations and conclusions.
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Comment by Roy Pender on January 22, 2012 at 9:52pm
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Many here question as to why Chesapeake shell companies have pulled their offers. Take a look at the company as a whole. Complete debt ridden and most likely does not have the funds. They have a tendency as always to overspend. Reference the lawsuit filed against them by Harold Hamm and his sharing Aubrey McClendons email. Were he claims to be short of funds and needs more time.
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Comment by r w kennedy on January 22, 2012 at 5:35pm
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Mr. Fisher, they need the seismic to find the sweet spots. They can do anything you will agree to in the agreement, so read it carefully, in fact the agreement you are offered probably affords you no protection whatsoever. I'm starting to sound like a broken record, as in I keep saying, Buddy Cotten has a blog.....You can find it searching blogs at the top of this page.
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Comment by Wilsontownship on January 22, 2012 at 5:20pm -
In addition to the withdrawal of offers by CHK et al (Blanca Peak and Sullivan) are they not paying/honoring leases? Or are there landowners that are still in the sign bonus payment waiting period (i.e. 90 banking days)?
I am a MI landowner and just went through this as covered in the 12/28 Reuters article. Maybe we can compare notes.
Wilson
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