I have no idea on what is a good lease, I just started to research more info regarding oil leases, royalty percentage, etc. There is a oil company interested in exploring on my land, they offered $50 per acre, 18.75% royalty, and a small bonus, this seems like a small amount? considering my land is located within the Bakken area and there are quite a few oil wells and new exploration going on. I dont know anyone I could ask questions in this area since I inherited this land and live a few states away from it. At this time I'm not interested in signing this lease.
Does anyone have any info on oil leases in the ND, Roosevelt/Richland counties in MT areas and what details would be better to consider?