My 88 year old dad and I have dozens of small mineral acres rights in Northern eastern Montana.
Most in Sheridan county and some in Daniels.
Are these viable or 'hot area' right now?
I have a naive question about quantifying your acreage.
Say you have 12.5 acres(mineral rights )in a certain section. Oil is hit in that section and production commences. Are your 'net' acres identified some how or do you get a percentage, based on the acreage you own ( mineral rights ) out of 640 acres ( section area ). ??
He has been (dad) been approached to lease 'ceratin' acreage, and the company, offered to lease for 5 years +1/6th @ $100.00 per acre. the company told him some of his acreage is worth $300.00 and some not much so they came up with $100.00 average.