I own mineral rights in Williams County North Dakota and in the last 3 months I have had an offer each month from the same company wanting to purchase. The 1st offer was $400 acre, then $800 and now they are offering $700. Just curious if anyone else in the area has had offers?
There are many companies who try to buy mineral rights. You are in a very hot area, so don’t be surprised to get more and more offers. Especially, if you have someone drill on your acreage.
Have you leased to an oil and gas company?
Yes, I leased 2 years ago for $150 an acre.
Reagan Thompson said:
There are many companies who try to buy mineral rights. You are in a very hot area, so don’t be surprised to get more and more offers. Especially, if you have someone drill on your acreage.
Have you leased to an oil and gas company?
I received my first offer. I don’t live in the area anymore but have been following the activity. We own minerals in the NW corner of Williams Co. and am wondering if we got a good offer since there hasn’t been any activity around there. Are yours located around there? I was offered $250.00/acre by Diamond Resources representing Hunt Oil.
My family farms north of Williston and some people are getting 500+ an acre. I would try for more, search here to see what people are getting http://www.land.nd.gov/minerals/AuctionHistorySale.asp
Larson said:
I received my first offer. I don’t live in the area anymore but have been following the activity. We own minerals in the NW corner of Williams Co. and am wondering if we got a good offer since there hasn’t been any activity around there. Are yours located around there? .I was offered $250.00/acre by Diamond Resources representing Hunt Oil.
State lease bids go pretty high but try to get that from a company trying to lease yours and they all say you can not go by state lease bids and unless you own a very large tract they really want they’ll just get a pooling order. I have been buying in Williams county paying $500 minimum and up to $1200 for some areas of the county so don’t ever sell for less.
Oh, I would never sell. I was curious if others have received offers. Not sure if it means something to receive offers.
Debra Ganske said:
Don’t SELL your minerals. Why would you want to sell them for $700 an acre when you can lease them for approximately the same amount of money, retain your ownership interest, and receive royalties on production?
As to keep or to ever sell minerals, most lease for 3 to 5 years, just use a 3 year lease for an example, if they wait 3 years to drill and then another 4 months to get it producing and say a 3 year payout if the well comes in with good production and no down hole problems it will be 6 plus years to get the same amount of cash in hand that one could have in hand now not 6 plus years from nowl. I have also seen some in Williams county producing only 200 bbls of oil a month, then your talking probably 15 years if it produces that long. Yes cd rates are low now but unless the economy tanks again interest rates will head higher. For some it is wise to hold minerals for the long run, for others it may not.
When minerals are leased it shows up on county records and there are many who get the names from from county records or companies that sell the lease activity information and send out mass mailings with offers to purchase. Some companies have their own landman who searches out mineral owners to send offers to in an area where leasing or drilling activity is going on.
I have been going through my mother papers, she passed several years ago and found 10 acres of mineral rights in williston nd, township 154, section 30, range = 100, any sugestions how I can find out the status on this, from what I can tell there is a well being drilled by Brigham oil in this location.