11-18N-13W lease offer and 21-15N-13W sale

Recently received an offer to lease in 11-18N-13W in Blaine county for $2000 net mineral acre on 1/5 basis for 3 years. Seems like a fair offer, but wanted to throw it out to see if any advice was available.

Also was planning on selling small interest (about 2 nma) in 21-15N-13W in Blaine County for $13,500 per net mineral acre in production on a 3/16 contract. Any thoughts?

Marathon permitted a multi-unit well (1 well that is located in 2 sections) in S21 and S28 and will probably be drilling soon. I haven't bought anything that far west, but considering the quality of the wells in the area the geology looks to be pretty good. The draw back is that there isn't any multi-well - the closest I see is in 15N 12W.

On your lease, the devil can be in the details - I imagine you have seen plenty of discussions on here related to post production costs, and other related clauses. Make sure that your economics don't get stripped away with other lease clauses that impair the great royalty rate you are receiving.

Hi Jair:

If you still haven't done anything with these minerals, selling or leasing, you might want to drop me a line.

The 15N-13W area of Blaine is looking pretty good. Who are you leased to in Sec. 21?

Todd M. Baker

I own minerals in 26-15-13. We leasedfor $12,000 an acre bonus and 20%royalty. They are drilling two wells on this section, and there was a very good well across the road South recently. $12,000 to lease, not to buy.

Congrats. That’s an awesome bonus and royalty.