Mary, yes, “show your minerals” to as many as possible. If your minerals were far from production in a county with no activity, you’d be wasting your time. Yet when there already is activity in an area, gather the names of as many companies as possible and contact them before agreeing to any deal. Most people don’t. You should.
$50/acre is a good offer in some places. Elsewhere $1500/acre is too cheap. So where to begin? Research to determine which areas are active with which companies, and note what has been offered to others. Identify all companies leasing in southern Wibaux and northern Fallon Counties. Note locations (Township, Range, and Section) to compare with yours.
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Find company names posted on this website.
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See 2011 and 2012 federal (BLM) lease auction results.
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See 2011 and 2012 State (MT) lease auction results.
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Check www.BOGC.DNRC.MT.Gov for any nearby permits or wells.
Ideally contact six to eight companies who’ve shown interest in your area. Have your (Mom’s) Full Legal Description, Net Mineral Acre Owned, and Gross Acres. Tell each one you’re interested in leasing and are “showing” your minerals to several companies. Some may take a week or two to respond, others may make an offer within a couple days. Either way, give it a month or so before accepting anything to see if real competition can develop. Good luck.
FYI: “HERCO” (i.e., Heringer Co) was Chuck Heringer’s. He began back in the first boom of the 1950s. He’s now deceased and the company is operated by some of his sons. They are experienced and reputable people. Though I’m not smitten with the offer quoted.